Dossier
petroleum, oil, and lubricants (POL)
Coverage of petroleum, oil, and lubricants (POL) in the Nexus archive.
- Fund created to mitigate oil price shocks
The government established a Petroleum Prices Stabilisation Fund to mitigate oil price shocks by channeling proceeds into the Public Account under the Special Deposit Fund. The fund aims to adjust petroleum prices weekly to minimize consumer impact, leveraging savings from unconventional oil imports and potential future austerity measures.