Consumers groan as petrol prices climb above N1,300/litre — Marketers raise rates thrice in one week

By Obas Esiedesa, Abuja ABUJA — Consumers have expressed concern over the continued volatility in petrol prices across the country, calling on the Federal Government to intervene and ensure stability in the downstream petroleum sector. Checks by Vanguard on Sunday showed that retail outlets in the Federal Capital Terri

Many filling stations across the Federal Capital Territory have increased the pump price of Premium Motor Spirit, popularly known as petrol. The development came despite a decline in international crude oil prices from $92 per barrel to $87.31 per barrel. Brent crude stood at $88.10 per barrel, down 0.47 per cent, whil

Warsh signals Fed may need to raise rates if above-target inflation persists  Reuters

The US central bank will “have work to do” if policymakers are not confident that underlying inflation is returning to its 2 per cent target, Federal Reserve Chairman Kevin Warsh said on Friday in remarks that acknowledged financial conditions do not appear restrictive and marked the closest he has come to acknowledgin