Fuel depot price hits N165 per litre Jan 30, 2018

 

Despite what seems like the best efforts of the Nigerian National Petroleum Corporation (NNPC) to end the protracted petrol scarcity in the country, the fuel supply situation may worsen as the price has hit N165 per litre at the depots, against the official price of N133.28, THISDAY reports.

 

A market survey showed that only seven out of over 30 depots had stock of petrol at the weekend. The depots include Folawiyo, Fatgbems, Aiteo, Bovas, Heyden, Rainoil/First Royal and NIPCO. However, the major marketers had stock of NNPC’s petrol, which the corporation was dispensing to only the major marketers’ dealers and their branded filling stations at official price.

 

Worried that the petrol it imported and allocated to marketers did not get to retail outlets and motorists at official price, the NNPC had since stopped allocating product to marketers and resorted to throughput arrangement with selected marketing firms to have affective control of supply and distribution.

 

It was however, gathered that marketers that bought NNPC tickets direct from the corporation to lift these products were selling these tickets to third parties at a price range of N165 per litre and N157 per litre. Marketers blamed the high ex-depot price on inadequate supply of petrol.

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