Marketers Hoard Fuel, Price Hits N150

Marketers Hoard Fuel, Price Hits N150

By Seyi Peters | Staff Reporter on May 15, 2015
NNPC A petrol station during fuel scarcity in Abuja tanker
A petrol station during fuel scarcity in Abuja | Leadership
 The price of petrol has risen from N87 to about N150 per litre in different parts of the country.

Investigations showed the rise in price is fuelled by many irregularities, including extortion at depots, jetties and filling stations.

It was learnt that tanker drivers who queue for weeks before they can lift petrol pay various undisclosed fees to secure early loading.

Consequently, both major and independent marketers are unwilling to sell at the official regulated price of N87 per litre.

The independent marketers, in particular, regularly shut their stations in the day and sell only at night at higher prices to desperate buyers.

Some that open at night also close their gates to motorists and sell at higher prices to consumers who come with jerry cans.

Sources remarked that the marketers have decided to keep sealed lips but intensify efforts toward compelling the Federal government to settle their outstanding subsidies.

“From what we have gathered, the President-elect, General Muhammadu Buhari would not likely pay us. That is why we must be strategic in ensuring that we get our monies from the President Goodluck Jonathan-led government.

He stated that it is a firm resolve marketers not to flood the market with adequate supply so as not to give impression that the problem has been resolved.

The suffering of consumers have been compounded because the Department of Petroleum Resources, DPR which has the responsibility to monitor and sanction erring filling stations have not yet intervened.

The Spokesman of Nigerian National Petroleum Corporation, NNPC, Mr, Ohi Alegbe  in a statement said that the Coporation supplied 1.2 billion litres for consumption.

The Corporation said the stock could last for 31 days going by the 40 million daily consumption of the product in the country.


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