Mr Tunji Oyebanji, former Chairman, Major Oil Marketers Association of Nigeria (MOMAN), has cautioned petroleum marketers against speculating over petroleum pump prices across the country.
Oyetunji made the admonition in an interview with Newsmen on Friday in Lagos.
Oyebanji said that no marketer could speculate the fuel pump price until importation of the product starts.
He said: “It depends on the exchange rate. If those factors are changing, prices of those products will also change.
“As you know, at a time, diesel went up significantly at above N800 per litre, but now it has come down to within N600 to N620 per litre.
“So, once you are in a deregulated environment, that is how it is, especially when you are importing the product.
“I can not project price of petrol for now until we import the product.” he explained.
“Not until you order a cargo, know the exchange rates, before you can predict the price.
