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A sudden 15% increase in the retail price of motor gasoline and dual use kerosine and 10% rise in VAT just before Olusegun Obasanjo stepped down as president in late May 2007 triggered a crisis and the unions on June 19 began a nationwide strike. With no motor gasoline (mogas) production of its own, ENOC is reliant on the international market for supplies. Besides lowering greenhouse gas emissions, Latty says, one of the benefits for consumers is that lower operating costs to produce should allow oil companies and refineries to make high octane motor gasoline (about 110 octane) that costs less than conventional high-octane gasoline. |
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