NNPC raises fuel price to N955 per litre upon supply shortage
By Jeph Ajobaju, Chief Copy Editor
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“Dangote increased their loading price to N845 per litre, as against N825 earlier sold, thereby resulting to a selling price of between N900 and N955, depending on the location.
“We are aware that NNPCL supplies only to their retail outlets. Presently, the supply at Dangote is not sufficient for marketers. Most of our members, who paid for products to Dangote, are yet to load for two weeks now.
“I will say that when people are scrambling for products, it results to hike in price. Some marketers, who paid to buy about three million litres from Dangote, were only given one million litres, as they complained of products being rationed, amongst marketers” – IPMAN.
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Fuel pump price has been raised from N905 per litre to N955 at retail outlets owned by the Nigerian National Petroleum Company Limited (NNPC) and private marketers, within a week of the previous increase.
It comes as a double whammy of further financial hardship on households grappling with cooking gas (liquefied petroleum gas, LPG) price jump from N1,000 per kilogram (kg) about two weeks ago to N3,000 this week.
A 12.5kg cooking gas cylinder refill that cost N12,500 less than two weeks back now sells for N37,500 in Abuja, Lagos, and some other parts of the country.
As for petrol, NNPC retail outlets adjusted their price to N955 per litre on Monday in the Abuja areas of Gwarimpa, Kubwa Expressway, and Wuse Zones 4 and 6.
Petroleum Products Retail Outlets Owners Association of Nigeria (PPROOAN) National President, Billy Gillis-Harry, also confirmed the hike to DAILY POST.
Other filling stations in Abuja, including Ranoil, AA Rano, and Mobil, raised their pump prices to between N920 and N930 per litre.
By last Saturday, MRS filling stations were dispensing petrol at N851 per litre in parts of Abuja.
Retail outlets relying on Dangote Refinery fuel distribution have been without the commodity since Sunday up to the close of work on Monday.
On Monday morning, other marketers elsewhere increased their price by from N890 per litre to N955.
Independent Petroleum Marketers Association of Nigeria (IPMAN) Public Relations Officer, Chinedu Ukadike, attributed the price increase to supply and logistics challenges incurred by major marketers which include NNPC and Dangote Refinery.
“Dangote increased their loading price to N845 per litre, as against N825 earlier sold, thereby resulting to a selling price of between N900 and N955, depending on the location,” Ukadike told Vanguard.
“We are aware that NNPCL supplies only to their retail outlets. Presently, the supply at Dangote is not sufficient for marketers. Most of our members, who paid for products to Dangote, are yet to load for two weeks now.
“I will say that when people are scrambling for products, it results to hike in price. Some marketers, who paid to buy about three million litres from Dangote, were only given one million litres, as they complained of products being rationed, amongst marketers.”
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