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Compiled By: Prince Henry Danquah, Bora Capital Advisors Ltd.
Some Oil Marketing Companies (OMCs) are accusing Bulk Oil Distribution Companies (BDCs) of creating what they describe as an artificial fuel shortage on the market.
Some OMCs claim the situation is a strategy to help the BDCs benefit from the expected significant increase in petroleum product prices at the pumps from next Monday, March 16, 2026.
The OMCs have also told JOY BUSINESS that some BDCs have stopped selling to them in an attempt to hoard products in anticipation of a price spike from March 16, 2026.
There are also reports that some BDCs have significantly increased their prices, forcing some smaller oil marketing companies that buy on a cash and carry basis to purchase products at what they describe as very high prices.
Source: newsthemegh.com