The Major Energies Marketers Association of Nigeria (MEMAN) yesterday rejected the Airline Operators of Nigeria (AON)’s claims that its members are selling Jet A1 (aviation fuel) as high as N3,300 per litre. Domestic carriers had threatened to suspend flights from April 20 following rising Jet A1 (aviation fuel) prices.

They had claimed that oil marketers had increased Jet A1 from N900 per litre to N3,300 per litre within four weeks despite global crude oil prices rising by only about 30 per cent within the same period.

But MEMAN acknowledged the financial strain facing the airlines sector, but denied the price cited by the carriers. The association said members are barred from discussing pricing under competition law but advised any airline currently paying N3,300 per litre for Jet A1 to seek alternative suppliers, saying cheaper options are available in the market.

The marketers blamed the Middle East crisis for the rising Jet A1 prices. They said: “We must express our surprise at the price of N3,300 per litre stated in your letter as the price being charged to some airline operators.

MEMAN members do not discuss pricing as this will be against competition law; however, the price of N3,300 is over N1,000 higher than our average market survey price of Jet Al carried out for this exercise, after receipt of your letter.

“We would therefore strongly encourage any operators currently being charged at those levels to exercise their commercial right to seek alternative suppliers.

“Our market survey confirms that more competitively priced options are available, and MEMAN members remain committed to providing ATK at fair, market-reflective prices. “We have also received indications of falling costs, which should begin to reflect in market prices in the coming weeks.”