Petrol scarcity persists amid price hike

Petrol scarcity persists amid price hike

Despite a fully deregulated kind of Premium Motor Spirit (PMS) petrol pump price increase in the Federal Capital Territory (FCT), the product sustained its persistent scarcity yesterday.

As The Nation monitored the petrol market, aside from some major marketers and independent marketers that sold petrol for N195 per litres, other remote stations vended the product at a black market rate.

While some sold theirs at N310 per litre others sold it at N350 per litre. There was no reason to argue that it was still a regulated market.

Black marketers that sold the product in plastic cans also sold for between N3,500 and N4,000 per 10 litres.

The situation was worse in Suleja, Niger State, where petrol was sold at N350 per litre.

The few stations that vended the product recorded unimaginable long queues. While some said they were in the queue before Dawn, some said they queued from dawn till 4:00pm before they got the product.

“I queued at Saba’s in Jahi at 6:00am as soon as I got the hint that they had fuel. Luckily, I was served at 4:00pm,” said a Bolt driver, who identified himself as Benjamin.

The Nigerian Midstream & Downstream Petroleum Regulatory Authority (NMDPRA) ignored The Nation’s phone call and text message that asked if petrol is still a regulated product.

Besides, the Authority’s website only showed June 22, 2022 latest petrol stock and sufficiency data, when our correspondent visited it yesterday.

Independent Petroleum Marketers Association of Nigeria (IPMAN) said petrol supply at the private depots had not improved.

Online Editor

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