The National Petroleum Authority (NPA) has announced new Petroleum Pricing Guidelines that will take effect on March 16, 2026, prohibiting Oil Marketing Companies (OMCs) and LPG Marketing Companies (LPGMCs) from offering selective discounts at retail outlets.
Under the directive, pump prices must match those submitted to the NPA, ensuring uniform pricing across all outlets. The regulator emphasized that no operator may sell above the approved or advertised price, and violators will face sanctions.
The revised framework aims to strengthen compliance with pricing regulations, enhance transparency, and improve monitoring in the petroleum downstream sector. A key innovation is the publication of all ex-pump prices submitted by OMCs, which will allow greater oversight.
Industry players have expressed mixed reactions, with some concerned about the impact on companies that rely on discounted pricing to attract customers. Others believe the directive will help level the playing field. The NPA has scheduled a meeting with stakeholders on March 11, 2026 to address concerns before implementation.
Prices will continue to follow the bi-monthly windows (1st–15th and 16th–end of month), with submissions required on the NPA platform before each window begins. The Authority also plans to intensify monitoring, including product quality checks.
Source: joynews
