Fuel Scarcity: Petrol ex-depot price rises to N178 per litre

There are now different fuel prices in the country just after fuel queues resurfaced in some states. 

 The Nation reported that Premium Motor Spirit (PMS), otherwise known as fuel, sold for between N198 and N200 in Lagos, Ogun, and Oyo states against the official pump price of N165 at stations operated by major dealers and N175/180 by independent marketers. 

 The Independent Petroleum Marketers Association of Nigeria (IPMAN), Western Zone, blamed the development on the lack of fuel at Nigerian National Petroleum Company Limited (NNPCL) depots. It added that private depots hiked prices to N178 per litre as against N145. 

 According to the association, it is practically impossible for its members to continue to sell at N175/180 per litre. 

 Chairman of IPMAN Western zone, Dele Tajudeen, said yesterday: “None of the NNPCL depots has petrol. Private depots took advantage of the situation to hike the price. The only option for our members is to opt for private depots to keep our business moving.

 “We are totally against the increase because it will affect our profit margins and the masses. “Some private depots who have the product, deliberately, refused to sell for reasons best known to them.

 “Our members have no other option than to sell between N195 and N200 per litre within Lagos, Ogun, and Oyo states. 

We will sell between N200 and N210 in Kwara, Ondo, Osun, and Ekiti states. ”Most of the tank farm owners have justified the increase because of different charges, among which are vessel charges paid in dollars. 

We are equally calling on the management of the NNPCL and NMDPRA to investigate the arbitrary increase in fuel price by the private depot owners.” 

 An official of the Depot and Petroleum Marketers Association of Nigeria (DAPMAN), who preferred to be anonymous, blamed the scarcity on a shortfall in product allocation from the NNPCL.

 Also speaking to the publication, a station manager of an NNPCL filling station said; “For five days now, I have been parading the depot to lift fuel but to no avail. 

Besides, prices have been increased at private depots because since my station is under NNPCL, we cannot increase pump prices without a directive. I can’t also go to any private depot to buy because I won’t be able to sell at the regulated price by NNPCL.”.