No More N800 Per Liter, See The Current Price Of Fuel In Nigeria As FG Begins Total Shutdown Of Errant Filling Stations
Independent oil marketers in Nigeria have hiked the pump price of Premium Motor Spirit (PMS), commonly known as petrol, to between ₦900 and ₦1, 000 per litre. This comes amid growing frustration over the disparity in fuel prices, as stations operated by the Nigerian National Petroleum Company (NNPC) continue to sell petrol at much lower prices, ranging from ₦568 to ₦617 per litre.
The significant price gap has led to long queues at NNPC stations, where consumers hope to buy petrol at more affordable rates. However, independent marketers have defended their decision, claiming that they are forced to purchase petrol from private depots at exorbitant rates, sometimes as high as ₦850 per litre. One independent marketer who spoke with Punch stated, ” We’ ve been buying petrol from private depot owners at these high prices since last week, and that’ s why our pump prices have increased accordingly. ”
In response, the Federal Government has vowed to clamp down on filling stations selling petrol at excessive rates. The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) issued a stern warning to marketers, stating that any station caught profiteering would be shut down.
The regulator’ s personnel at the depots reported pricing that did not match the claims made by independent marketers, according to NMDPRA spokesperson George Ene- Ita. ” Our depot people see a different price. We ask them to publish the prices daily, and it is not ₦850/litre, ” he added.
Nigerian government has promised that they will take serious actions towards those that break the laws and sell their petrol in a very high price. The big question is when will this fuel hike and troubles stop in the country even with the high level of crude oil taken from the the country. Meanwhile petrol stations have heard the news and are ready to do something about it.
