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Filling stations reportedly hoard petrol, sell for N173 per liter

745ng | February 20, 2021

Filling stations in Lagos and Ogun State have increased petrol prices from N161 to N173 per liter.

The Federal Government has not officially increased the petroleum product’s pump price, but some marketers have increased them while others hoard not awaiting the hike in price to be made official.

Discovered by newsmen while investigating during their visit to some filling station, they realized that they began selling the product for N167 and N170 per liter, respectively.

Filling stations like Jof Petroleum sell at N173/liter, NNPC situated in Magboro area of Lagos sell at N167/lite, while others like Conoil, Capital Oil, Lagos (Lagos-Ibadan expressway) have also hiked the prices.

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An attendant of one of the filling stations who wish to be kept anonymous said the management of the station asked them to adjust the meter, saying the government would increase the pump price soon.

She said, “We have been selling from two out of our five dispensers, and that is not because we don’t have the product but because we don’t want to run out when the price is increased later.”

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The manager of NNPC, which sells at N167/liter, said, “It is difficult for marketers to profitably sell at the approved pump price. We have been running at a loss before now, so it is important for us to make money as the cost of petrol would definitely increase soon.”

In an issued statement by the National Public Relations Officer, Independent Petroleum Marketers Association of Nigeria, Chinedu Ukadike said,

“We met as regards the emerging trend in the downstream supply of petroleum products. We had a Central Working Committee meeting last Wednesday where stakeholders looked at the trends.

“We were able to look at some of the policies and the introduction of e-payments by PPMC and the challenges therein, as well as the issue of buying products from other private depots and the profiteering in that section.”

Written by 745ng


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