M-East crisis: Marketers to adjust prices as crude surges past $100 per barrel
***Experts call on FG to intervene to mitigate impact of petrol price adjustment ***Nigeria lacks barrels to maximise forex windfall — OPEC ***Expect higher diesel, transport, freight costs — ANALYST By Udeme Akpan, Energy Editor, Peter Egwuatu, Yinka Kolawole & Ediri Ejoh LAGOS — Oil marketers are set to adjust upwards the pump prices of petroleum products in the country as international crude benchmarks rose above $100 per barrel yesterday, increasing the cost of crude and potentially putting fresh pressure on domestic petroleum-product prices.
Higher oil prices can increase government revenue and dollar inflows, but the benefit depends largely on the volume of crude available for export after domestic requirements and other obligations.“The rise in crude oil prices above $100 per barrel is a mixed blessing for Nigeria.
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