Fuel marketers have started adjusting their petrol pump prices amid the supply shortage facing private depots in Apapa.

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

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

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

The PUNCH reported last Thursday that 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.

“My members buying from DAPPMAN members are buying at N160-N161, and they will have to add their transportation costs to it. So, at what price do you want them to sell? Even that N170 is still very cheap,” Osatuyi said on Tuesday.

He said the PPMC had told marketers to register under the new payment method, called ‘PPMC Customer Express’, before they could buy products from it.

“Right now, PPMC has said that the era of ATP (Authority to Pay) has gone. It means that payment has to be made online. So, my members are now in the process of doing that, and without doing it, we cannot lift products,” he added.

The NNPC, which has been the sole importer of petrol into the country in recent years, is still being relied upon by depots and marketers for the supply of the product despite the deregulation of the downstream petroleum sector.

Our correspondent also gathered that many private depots in Apapa, Lagos, from where many marketers get petroleum products for distribution to other states, were running dry of petrol due to supply shortage.

When contacted, the Group General Manager, Group Public Affairs Division of the Corporation, Dr Kennie Obateru, told our correspondent that there was no shortage of petrol supply from the NNPC.

He said, “We have 1.7 billion litres of product as at today, which will give us about 40 days’ sufficiency. Even some more vessels are on the programme.

“And we have not increased our ex-depot price; even though we know some of them (marketers) are sort of slowing down because they are expecting that we will react to the crude oil price increase. But for now, we haven’t done that.”

One of the major private depots told marketers to stop payment for the petrol because of the supply shortage and the uncertainty over when it would get the product.

A top official of a Lagos-based oil marketing company told our correspondent on condition of anonymity that there had been erratic supply of petrol to private depots in Apapa since last week.

Source: https://m.punchng.com/Marketers-raise-petrol-price-to-N170-depots-suffer-shortage

No matter the situation the God who has been providing for the common masses will continue to provide for them..

The masses are always the ones to bear the pains

chriskosherbal:
No matter the situation the God who has been providing for the common masses will continue to provide for them..

na everyone dey feel the pains ooo.

The burden will still fall on the Nigerian consumers

It baffles me how we swallow every increase in this administration,but in the previous administration we murmur at every single thing. God will continue to provide and we will survive every hike. Amen

Which way nigeria?

Omo, everyday bad news in naija

You hardly hear good news in this country.

So so bad news.

I don tire

Nothing is shocking anymore in Nigeria..



Check my signature to help your brand.

chriskosherbal:
No matter the situation the God who has been providing for the common masses will continue to provide for them..

Provide what for them exactly?

another food stuff and cost of living hike. once pump price goes up every other thing follow.

Good

na wa o

They should kuku peg it at 200

chriskosherbal:
No matter the situation the God who has been providing for the common masses will continue to provide for them..

Stop calling God and get to work

After electing a certified mummy as your president... You don't expect to be the world's poverty capital?...

This is One of the Reasons why APC must not come back to power in 2023. #SayNoToAPC# #ENDAPC#. #AKINADESINA/NGOZIWEALLA2023# is the CHECKMATE!

Welcome to next level, by the time Bubu is done with Nigerians, their senses will be restored fully

Ive made up my mind to travel abroad and start earning euros. Nigeria is gone forever

This is not the type of news I want to hear this morning

Stockquality:
Ive made up my mind to travel abroad and start earning euros. Nigeria is gone forever

Nigeria is gone, done and dusted.

drake49:
It baffles me how we swallow every increase in this administration,but in the previous administration we murmur at every single thing. God will continue to provide and we will survive every hike. Amen

It's obvious that those who did not enjoy the previous loots were fighting to take over and continue

We just bought at 180 some minutes ago

Nigeria and fuel shortage or price increase are a constant headache. I've heard every argument since 1999 but the result is still the same: prices goes up or there is shortage and hoarding. With subsidy, without it, oil price low, oil price high, militants, no militants. What kind of nonsense country is this?

Already inflation is headed for 16%, and this fuel increase will only make food more expensive. Upon all the loans that future generations will have to pay back with depreciated naira, all the taxes we're being hit with. Haba!

Invalid link to the news, what happen ?
Anyways, no matter how hard things be for obodo Naija, God will continue to provode us.

Since one week we’ve been buying at N170 per litre in Owerri

chriskosherbal:
No matter the situation the God who has been providing for the common masses will continue to provide for them..

This is the kind of mediocre reasoning that has kept us where we are. Remain docile and keep talking about God. The bad situation will make you commit evil then you turn around to blame the devil. Keep abdicating your responsibility to God until your likes perish with such mindset.

springer:
This is One of the Reasons why APC must not come back to power in 2023. #SayNoToAPC# #ENDAPC#.

see everybody decamping to a APC,it means they will rig themselves back to power despite their poor performance
. The votes are not likely to count

It is well with is in this country

drake49:
It baffles me how we swallow every increase in this administration,but in the previous administration we murmur at every single thing. God will continue to provide and we will survive every hike. Amen

You mean God punishing those who voted this present government

drake49:
It baffles me how we swallow every increase in this administration,but in the previous administration we murmur at every single thing. God will continue to provide and we will survive every hike. Amen

Honestly , every where is calm no noise at all