Major marketers of petroleum products yesterday warned that the introduction of the 15 per cent import duty on petrol and diesel could signal another round of fuel price increase.
The approval of the duty by President Bola Ahmed Tinubu is causing division in the downstream sector of the oil and gas industry with some economic experts applauding the move as a welcome development aimed at discouraging importation of petroleum products and supporting local refineries, while others express worry over likely hike in prices of petroleum products.