The Petroleum Dealers and Owners Association in Ondo and Ekiti States monday declared that it cannot sell fuel at the government approved price of N87 per litre.

The position of the association, was expressed at a news conference addressed by members against the sealing of their stations by the Department of Petroleum Resources (DPR), for selling fuel above the government recommended price.

Addressing journalists, the Chairman of the association, Mr. Jimi Oladapo, said due to non-availability of products at the depots of the Nigeria National Petroleum Corporation (NNPC), members had been sourcing products through other means with attendant cost.
The dealers said rather than forcing them to sell at unrealistic price, the federal government should deregulate the downstream oil sector to enable them sell at appropriate prices.

According to the petroleum dealers true cost per litre of petrol varies from the source.

Specifically, Adedapo said total cost per litre of fuel from Lagos ranges between N104 and N108 while the landing cost per litre from Ogara/Warri in Delta State is between N105 and N108.00 per litre.

He said the landing cost is exclusive of operating expenses such as diesel to run the station, staff salaries and wages, strategies, office and pump maintenance.

“From the analysis, you will agree with us that it will be impossible for us to sell at the government approved price of N87 per litre,” he said.
Adedapo also disclosed that even when NNPC gives out fuel, the cost to them at their stations are above N89 per litre.
“One wonders how as businessmen with responsibilities can sell below cost price. The ordinary law of supply and demand will not allow it,” he said.

Adedapo lamented that despite their plights as highlighted, the regulatory authorities most especially, the Department of Petroleum Resources (DPR), in Akure rather than facing the reality of the situation, have resulted to sealing of stations in Ondo and Ekiti States and vowed not to open until they complied with directives of selling at the government recommended price.

“Rather than running our stations at a loss, since most of us are on loan from financial institutions, we have resolved not to procure the products until it is readily available at NNPC depots,” he said.
The petroleum dealers said the so-called subsidy was nothing but fraud, saying it had become a conduit pipe through which nation’s resources are being siphoned.

“Let the marketers go and source for the products, if this is done fuel cannot be up to N87 and it will further go down to about N50 due to the falling crude oil price.

“Everybody knows that kerosene is being subsidised, but how many people get it to buy at N50 per litre recommended price.
“We want members of the public to help us tell the federal government to remove the fuel subsidy so that we can sell fuel at appropriate price and remain in business. subsidy is a fraud,” Adedapo stated.

He therefore told the people of Ondo and Ekiti States to prepare for the hard times on fuel supply because they cannot sell below the cost price, saying if the landing cost from NNPC depots is N89, how would they sell at N87?
http://www.thisdaylive.com/articles/petrol-dealers-we-can-t-sell-at-n87-per-litre/214534/

its a matter of time ...let mr presido settlr down first.then we will see perhaps a change of mind

But y?

Abeg nah Help the masses!!

Let's try

Hmmmm...... Don't even know If we are progressing or regressing.....

All of una wey vote for change don't even dare complain cos if u guys do

The type of thunder wey go fire una ehh..
Shey na baba go slow una want u guys must enjoy am oo.. This administration has kept on regressing by d passing of each day and I begin to wonder where the myopic sai buhari e warriors are.
This is what happened in Anambra we had peter obi and dey kept calling him a woman and now obiano don enter dey deal wid dem and dey can't talk.
U don't value what u av till u lose it.

rabex:
its a matter of time ...let mr presido settlr down first.then we will see perhaps a change of mind

True

ok

shawwal1

na una sabi o

.

thieeeefs, awon ole buruku, Karma's at hand

good for them

This is Buhari's administration not Jonathans so you guys better take your time

Its pathetic!

God punish una,una no fit,now way buhari Don promise to reform oil sector? http://yesreport..nl/2015/07/i-will-reform-oil-sector-buhari.html?m=0

So also I can't buy more than #87,I would rather not buy it.Thanks to bovas that sells at the normal price.

majidyusuf:
shawwal1

Fuel price must go down, the profit they got during GEJ tenure should sustain them until death came

Waving you ontop mango tree

We already knew this!

Overfed perverts.
They should accept pay cuts too, after all they all have been looting from the scam called "Oil subsidy".

Make fast money from your phone, check ma signature.

hahahha when majority of Nigerians are expecting it to be at the price of forty something naira.

rabex:
its a matter of time ...let mr presido settlr down first.then we will see perhaps a change of mind

.
I pity ur reasoning