Petrol: Why we sell above official price-marketers

In the file: NNPC Mega filling station

In the file: NNPC Mega filling station

Though the supply of petroleum products across the country has greatly improved after weeks of scarcity encountered by Nigerians, but most filling stations are still selling above the official price of N86.50 per litre.

Investigations revealed that majority of the independent marketers and some major marketers nationwide were selling at N120 and N150 per litre.

Some of the marketers attributed the difference in prices to their inability to source the product directly from the Nigerian National Petroleum Corporation, NNPC.

The Chairman of the Independent Petroleum Marketers Association (IPMAN) in Kwara, Alhaji Olanrewaju Okanlawon, disclosed that his members had to sell the product above the official pump price because they could not get supply from NNPC depot.

“We are not going to stay permanently on N130 per litre, the price will be determined on what we meet on ground at market but for now a litre is N130.

In his own submission, the Chairman of Independent Petroleum Marketers Association (IPMAN) Enugu zone, Ikechukwu Nwankwo said they could not sell at the approved price until all the filling stations ”are sufficiently wet.”

He confirmed that supply had improved and price had dropped but said the decrease in price notwithstanding, marketers could not sell at the approved price until at the filling stations.

Some private marketers in Jos, Plateau State, said that they were compelled to sell beyond the approved price because of the difficulty in sourcing the product.

“Some people get their supplies from Lagos, others get from Suleija, so the cost of transportation and logistics cannot be the same,” Ajims Peter, Manager, Pema filling station in Bukuru stated.

Some independent marketers in Lagos also attributed the price differentials to short supply of the product from the NNPC.

Though normalcy is gradually returning as queues have eased at the fillings stations in the metropolis but long …Read More

Source:: PM Newspaper