Subsidy On Residual Fuel Oil Removed Until Further Notice

Residual Fuel Oil
Residual Fuel Oil

Government Tuesday announced the removal of subsidy on Residual Fuel Oil (RFO) until further notice.

The move is an interim measure to ease the financial burden on the Price Stabilisation and Recovery Account (PSRA).

A statement issued by the National Petroleum Authority said the directive considered the growing concern about the sustainability of the Account to meet under-recovery payment obligations for Premix Fuel and RFO.

It urged all stakeholders to be guided accordingly.

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