The National Petroleum Authority (NPA) has indicated that price of petroleum products will remain stable at the pumps during the Christmas season.
A statement from the authority wishes to advise the general public that prices of petroleum products at the pumps are expected to remain stable over the pricing window, 16th December to 31st December 2017….This is as a result of a marginal drop of fuel prices on the world market. The Exchange Rate has also remained relatively stable”.
“In line with a directive from the Ministry of Energy, the Authority has activated the price stabilization mechanism to avoid any upward adjustment in prices…. the Authority has therefore adjusted the PRICE STABILIZATION and RECOVERY LEVY (PSRL) on Diesel and LPG. This adjustment will not result in any price increment,” the statement further said.
The NPA believes that the stability could be attributed to the marginal depreciation in the price of fuel on the world market.
Source:a1radioonline.com
