Fuel prices may go up again
Prices of petroleum products at the pumps could go up again by the end of March if the rising trend in the price of crude oil on the international market continues. The commodity is currently priced above the US$100 a barrel mark, a situation being attributed to the political crisis in Egypt and other parts of the Middle East where a significant amount of crude transits through the Suez Canal.
According to the National Petroleum Authority (NPA), a price increase would be justified if world market prices remain high because the current pump price is based on a world market price of between US$90 and US$95.
Chief Executive of NPA, Alex Mould, however explained that the Authority will continue to monitor the trend.