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









Following the return of petrol lines in several states, there are currently various fuel prices across the nation.

The Nation stated that the official pump price of N165 at stations run by large dealers and N175/180 by independent marketers meant that Premium Motor Spirit (PMS), also known as petrol, sold for between N198 and N200 in the states of Lagos, Ogun, and Oyo. 

The Western Zone of the Independent Petroleum Marketers Association of Nigeria (IPMAN) attributed the occurrence on a shortage of fuel at NNPCL facilities. Additionally, private depots raised their pricing to N178 per litre from N145.

The group claims that it is essentially impossible for its members to continue selling at N175 or N180 per litre.

Dele Tajudeen, the Western Zone Chairman of IPMAN, stated yesterday:

"No gasoline is available at any NNPCL depots. Private depots benefited from the circumstance by raising the price. To keep our business running, our members have no choice but to use private depots.

"We are completely opposed to the hike since it will harm both the general public and our profit margins.

"Some private depots with the commodity purposefully refused to sell for reasons that they alone know best.

"Our members are forced to sell between N195 and N200 per litre in the states of Lagos, Ogun, and Oyo. In the states of Kwara, Ondo, Osun, and Ekiti, we will sell items for N200 to N210.

"The majority of tank farm operators have cited various costs, including vessel fees paid in dollars, as justification for the hike. We are also requesting that the NNPCL and NMDPRA management look into the private depot owners' arbitrary fuel price rise.

A Depot and Petroleum Marketers Association of Nigeria (DAPMAN) representative, who wished to remain unidentified, attributed the shortage on an inadequate product allocation from the NNPCL

A station manager of a NNPCL filling station also spoke to the media and stated;

"I have been parading the depot to lift fuel for the past five days, but to no avail. In addition, prices have gone up at private depots because, as a NNPCL station, we are not allowed to raise pump rates without a direction. I am unable to purchase from any private depot since I will be unable to sell at the NNPCL-regulated pricing.







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