Independent petroleum marketers have expressed concern over the rising price of Premium Motor Spirit, PMS, otherwise known as petrol, in private depots to N710 per litre.


With the increase, petrol pump prices at outlets operated by independent marketers also rose to between N730 and N750 per litre which has led to queues at some stations operated by major marketers and Nigerian National Petroleum Company Limited, NNPCL, where pump prices are cheaper at N610 and N568 per liter respectively.


A visit to the private depots in the Satellite and Apapa areas of Lagos showed that prices varied as the product were sold at between N701 and N735 per litre. The depots with the highest price include Bovas depot which sold petrol to independent marketers at N762 per litre followed by MRS depot with N735 per liter.

The lowest prices were at Rainoil depot at N705 per litre, Emadeb depot with N705 per litre, while depot owned by Eterna Oil and Sahara also known as Asharami depot sold at N701 per litre respectively.


One of the independent marketers who spoke on condition of anonymity stated “most major marketers own tank farms in Lagos and they buy directly from NNPC. Scarcity has eased out a bit because NNPC supply mainly to major marketers but we the independent marketers are struggling as we depend on these major marketers for products.

“The major marketers buy at NNPCL rate of N548 to N550 per litre and they sell to us at N705, the cheapest is N701 per litre. These major marketers have filling stations in Lagos and other states but in Lagos they sell in their various stations at N610 to N620 per liter.

“IPMAN stations in Lagos are struggling as we are unable to sell due to the price difference making the market highly competitive. Our people outside Lagos are the ones selling as they benefit from the high price that it’s being sold over there.

He noted “when we buy from these major marketers at N705 per liter, NUPENG will charge us per the number of liters we purchase and then we add transportation cost of N15 to our filling stations, the price at the pump will be sold at N740 to N750 per liter”

Meanwhile, in a telephone interview with Vanguard, the National President, Independent Petroleum Marketers Association of Nigeria, IPMAN, Alhaji Abubakar Migandi Garima, stated that the supply hitches witnessed in the past few weeks have eased, adding that the situation in the country has gradually improved as marketers have started lifting the products from NNPC depots.


“Some of our members have started direct purchase through NNPCL, but the allocation from them is very low and cannot sustain all our members, therefore we have to go through private deports and buy from them to augment our various stations. For our members that buy from the private deports, automatically the price will change at their stations as they sell at a higher rate compared to major marketers”.\

Findings by Vanguard indicated that some independent marketers partner with some major marketers to get petroleum products at NNPC price in order to stay afloat.

https://www.vanguardngr.com/2024/05/petrol-marketers-fret-as-depot-price-rises-to-n710-liter-in-lagos/amp/

It shall not be well with those who worked, supported and encouraged this calamitous Tinubu regime

Holly Gram

EBIN PAWA ooo !!!


LITE UP my WEED in peace


WTF MAN!

Ofunaofu:
It shall not be well with those who worked, supported and encouraged this calamitous Tinubu regime

Amen! The funny thing is that they are the ones complaining the most.

The rise and fall.

They are systematically trying to push fuel price to between 750 and 850 yet Tinubu is proposing 54k as minimum wages..

Tinubu will be the end of Nigeria.

He takes with reckless abandon like the removal of fuel subsidy and electricity subsidy but when it's time to give back they suddenly remember that it will cause inflation.

Here we go again ...

okoo

We are still waiting for the miracle of BAT which he performed in Lagos,! Laughing in Brazilian German! Is it when half or three quarters of his tenure elapse that the "miracle" will manifest?
The funny thing is that those complaining the most are those who campaigned and voted him in.
Look at the North!
The Northern elders and co have already started WAILING at the tops of their voices in bitter complaints, and gang up against his second tenure are already taking shape in the North.
Even a Northern politician was put off and flabbergasted by SE silence on the Ebin Pa wa Syndrome.
Well, let's keep waiting for the miracle.

The fact that it's still just Tinubu's first year as president is scaring.It's already looking like a long nightmare.

When will dangote fuel come so that we can be buying fuel cheaper.
Government of propaganda

We are not a serious country

Bastard idiots

petrol is N1000/litre why am i not seeing it here this administration is very wicked no single love for the masses what a shameful government

SHAME on the Pple who supported Tinibu, the Glorified Chicago FRAUDSTER and his Demonic APC party.

No end to Nigeria suffering in sight, apc is another name for the devil

Seems there is a convulated form of indirect subsidy going on.

NNPC sells at subsidised retail prices at its own fueling stations, but 'arranges' with major marketers who in turn transfer the additional costs to final consumers...

Because it makes no sense that NNPC sells at 580, major marketers at 660-690 then independent marketers at 700+... within the same location. The price differential is too much.

BOVAS selling at 700+ to independent marketers but sells at less than 690 at its own fueling stations within same area...