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NPA to push for total removal of subsidies on all petroleum products
 
Posted on: 18-Jun-2013         Source: GNA
 
 
 
The National Petroleum Authority has indicated plans to push for the total removal of subsidies on all petroleum products.

Government last month removed subsidies on petrol, diesel and LPG, but maintained that on kerosene, pre-mix fuel and residual fuel.

Analysts are, however, worried government might still step in to cushion consumers from paying the real price on the market.

This has in the past caused government’s debt owed distributors of petroleum products hit about 500 million dollars.

But Alpha Okaija-Welbeck, Head of Pricing at the NPA, says it is working to ensure that consumers pay the full cost come the next review date on July 1.

If the National Petroleum Authority secures government's approval for this move, consumers should be paying for the real prices of petroleum products as and when they go up on the international market.