The Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, has attributed fluctuations in petrol pump prices to the global crude oil market.
Speaking at the inaugural meeting of the Petroleum Industry Stakeholders Forum in Abuja on Thursday, Lokpobiri emphasized that the downstream sector has been fully deregulated, removing government involvement in price regulation.
He stressed that market forces now determine petrol prices, reflecting the impact of international crude oil price movements.
