Explained: Why lower fuel import costs are not translating to cheaper fuel prices
Originally published by Citizen Digital — Read the original article →
When the cost of importing fuel goes down, you would expect prices at the pump to follow. But that is not always what happens in the country.
An analysis of fuel prices over the last few months reveals how the government has, at times, withheld relief at the pump and instead redirected the money to subsidise other petroleum products such as jet fuel.
And while consumers grapple with higher fuel prices, the margins earned by oil marketing companies have been going up. So, beyond international oil prices, what else is keeping fuel prices high at the pump?
