The Association of Oil Marketing Companies (AOMC) is urging the government to implement a fair and balanced mechanism for distributing the fuel brought about by the Gold for Oil Policy in order to avoid discrimination and ensure fairness to all licensed parties.
The association pointed out that the current mechanism allows for the arbitrary selection of BIDECs, and thus OMCs, to benefit from the program.
In a statement, AOMC also stated that the fact that this mechanism is intended to force players to lower pump prices creates some form of arbitrariness, which will eventually distort the market and create an uneven playing field.
This follows the government’s disclosure that only a few OMCs reduced fuel prices at the pumps when the first consignment was delivered.
According to a statement issued by the Association, a discussion of the implementation of this innovation and any others in the industry with all stakeholders will go a long way toward ensuring the program’s success.
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