Petrol price now N170 per litre amid supply shortage

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Factual Pursuit of Truth for Progress

 

‌By Francis Ogwo

The prices of petrol are being adjusted by marketers even as there is supply shortage at Apapa Depots.

Reports revealed on Tuesday that some filling stations in Lagos and Ogun states increased the pump price of petrol to N170 per litre from N162 per litre.

Some of the stations which were mostly along the Lagos – Ibadan Expressway were Capital Oil and Gas, Fatgbems and Amo Oil. Another station, Enyo Retail, reportedly adjusted its pump price to N165 per litre from N162.

The National Operation Controller, Independent Petroleum Marketers Association of Nigeria, Mr Mike Osatuyi had disclosed in an interview with PUNCH that members of his association had to increase the pump price because they bought the product at N160-N161 from depot owners.

Recall that last week thursday, IPMAN members disrupted loading of petroleum products at private depots in Apapa on Wednesday as well as Ibadan, Ejigbo and Mosimi depots belonging to the Nigerian National Petroleum Corporation.

They picketed the facilities to protest their inability to get products due to a new payment method introduced by the Petroleum Products Marketing Company, a subsidiary of the NNPC.

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