Petrol Ex-Depot Price Rises To N178 Per Litre

Petrol Ex-Depot Price Rises To N178 Per Litre

Motorists and commuters in Lagos and other Southwest states are in for a tougher time as more filling stations remains shot.

Vehicular queues lengthened in the few stations that had supplies while bus stops had thousands of forlorn commuters.

Expectedly, transport fares on most routes tripled. Many passengers unable to pay, resorted to trekking.

Premium Motor Spirit (PMS), otherwise known as fuel, sold for between N198 and N200 in Lagos, Ogun, and Oyo states against the official pump price of N165 at stations operated by major dealers and N175/180 by independent marketers.

Independent Petroleum Marketers Association of Nigeria (IPMAN), Western Zone, blamed the development on the lack of fuel at Nigerian National Petroleum Company Limited (NNPCL) depots. It added that private depots hiked prices to N178 per litre as against N145.

IPMAN said it was practically impossible for its members to continue to sell at N175/180 per litre.

But the latest report by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) on fuel availability showed that the nation has enough to last 24 days.

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