Home Latest News Independent marketers peg petrol price at N150 per litre

Independent marketers peg petrol price at N150 per litre

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As fuel queues gradually disappear from filling stations across Lagos, majority of the filling stations operated by independent marketers were still selling at N150 per litre as at yesterday.
Daily Sun investigation revealed that petroleum managers at Cele Bus Stop on the Apapa Oshodi Expressway, and Mubostic filling Station, Mazamaza and MRS filling station at Giwa/Oke Aro Road,Ogun State, sold for N150 per litre.
Some of the marketers who spoke to Daily Sun under the condition of anonymity, explained that they were yet to dispense off their old stock bought far above the recommended ex-depot (for collection) price of  N76.
‘‘I can tell you authoritatively that some of us in the thick of the fuel scarcity bought for as high as N128 per litre from the depot. So if I buy at that price, how much am I expected to sell? This is not our making because the situation is just beyond us. We cannot afford to run at a loss. It’s simply impossible,’’ he said.
Meanwhile, fuel queues were noticed across some major filling stations in Lagos yesterday.
The queues were further compounded by the refusal of many motorists to patronise independent retail outlets selling at N150 per litre. Rather, their preference was for major marketers and NNPC retail outlets selling at N86 and N86.50k, respectively.
Though, Capital Oil and Oando on the Lagos Ibadan Expressway by Berger bus stop were both out of stock, they had prior to yesterday dispensed products on Saturday and Sunday at the government approval price.
In the same vein, loading activities continued across depots in Apapa with NIPCO taking delivery of 24,000 metric tonnes (MT) of petrol discharged by a vessel named MT Champion.
A source at the depot, Mr. Julius Adindu, explained that other depots were awaiting the arrival of NNPC.
‘‘We are awaiting the arrival of NNPC vessels any moment from now. Once their vessels begin to arrive, the depots will be wet with products,’’ he said

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