The Chamber of Oil Marketing Companies (COMAC) is holding a key meeting today as it seeks to forge a unified stance on the Petroleum Price Floor Programme, amid growing disagreements among oil marketing companies (OMCs).
The discussions come after differing views emerged within the industry. Some operators support the price floor as a stabilising mechanism for the downstream petroleum market, while others argue it prevents them from passing further fuel price reductions to consumers.
Tensions over the policy intensified during the second pricing window in January, spreading across social media and traditional media platforms, with calls from some sections of the sector for a review or removal of the regulation.
COMAC says the meeting is aimed at addressing the divide, aligning member concerns, and assessing the policy’s market impact before engaging regulators. The outcome is expected to shape the chamber’s next steps, including whether to formally approach the National Petroleum Authority (NPA) for adjustments or reaffirm support for the current framework.
While some industry players advocate increased pressure on the NPA to scrap the price floor and provide greater relief for consumers, others insist the policy is necessary to maintain fair competition and the viability of the sector.
The NPA has stated it remains ready to engage COMAC and noted that the chamber had supported the price floor prior to its implementation.
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