Brace up for N400/litre petrol before 2023 as marketers clash with FG

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The lowest price the Nigerian National Petroleum Company Limited can sell Premium Motor Spirit, popularly called petrol, to marketers, assuming there is no subsidy, is N400/litre, it has been learnt. This could begin as early as December just in time before the festivities.

Petrol Station
Petrol Station

Oil marketers, who made the disclosure on Sunday, also gave other reasons for the continued scarcity of petrol, which had led to the lingering queues at filling stations nationwide.

They said PMS imports charges were becoming unbearable for the sole importer of the commodity – the Nigerian National Petroleum Company Limited, disclosing that the NNPC had been subtly pushing these charges to depot owners.

It was learnt that depot owners, on their part, were also passing the charges to filling stations, which in turn push it to final consumers of the product, a development that has led to the increase in the pump price of the commodity.

Additionally, it was learned that the Federal Government had covertly permitted depot owners to increase the ex-depot price of gasoline from the previously approved rate of N147/litre to approximately N185/litre.

This occurred on Sunday while the gasoline shortage persisted. Abuja's retail establishments were forced to close since there were no goods to sell. Locals were forced to turn to black merchants who offered their goods in jerrycans.

The similar situation occurred in sections of the states of Nasarawa and Niger, and oil traders claimed that the rise in the dollar was also a factor in the scarcity of PMS that had been observed in Nigeria.

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