N200 Per Litre? Nigerians Rush To Buy Cheap Fuel As Filling Stations Adjust Prices, See Current Prices Across The Country
Compressed Natural Gas (CNG) is becoming more and more popular in Nigeria as filling stations continue to offer Premium Motor Spirit (petrol) for much more than the anticipated N620 a litre. The average petrol price nationally in May 2024 was N769. 62, a startling 223. 21% rise from the N238. 11 recorded in the same month the previous year, according to data from the National Bureau of Statistics (NBS).
According to NBS data, drivers in some states— like Jigawa— paid as high as N937 per liter at gas stations. Additionally, filling stations in the states of Benue and Ondo changed their pumps to N882. 22 and N882. 67, respectively. At N636. 80, N642. 16, and N645. 15, respectively, Lagos, Niger, and Kwara were the states with the lowest gas prices from filling stations.
Only NNPC outlets in Nigeria sell gasoline for less than N600 per litre, according to a Legit. ng poll, while all other private filling stations charge more than the anticipated N620 per liter.
For instance, there was a N100 price difference between two stations that were next to each other in the Ikotun neighborhood of Lagos. The other filling station sets its pump pricing at N720 per litre, while the other sells to customers for N620.
When asked why the different prices, a manager who gave his name as Akeem said: ” We buy from different depots and at various dollar exchange rates. If we get new stock and prices have increased, you don’ t expect us to sell at the same price. Maybe the other filling station has old stock, which is why theirs is cheaper. ”
Alternative fuel costs N200 to Nigerians. For owners of both private and commercial vehicles, CNG has become a realistic alternative as gas prices are unlikely to drop any time soon. Cars, taxis, and tricycles can purchase CNG for approximately N200 per standard cubic foot, while heavy commercial vehicles can purchase it for N260 per standard cubic meter (SCM).
The Nigerian National Petroleum Company Limited (NNPC) and Transit Gas Nigeria Limited (TGNL) have built and put into service a 5. 2 MMSCFD Compressed Natural Gas/Autogas plant at Ilasamaja, Lagos, according to a previous article by Legit. ng.
