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General News of Friday, 13 January 2023


Petrol: Scarcity lingers as private depots sell at N240/litre

Fuel scarcity Fuel scarcity

Private depots have raised the price of petrol by 6.7 percent to N240 per litre this week, from about N225 per litre the previous week.

This came as the Independent Petroleum Marketers Association of Nigeria, IPMAN, said the current petrol scarcity might continue till June 2023 when the government was expected to remove its subsidy.

The Chief Executive Officer, Nigerian Midstream Downstream Petroleum Regulatory Authority, NMDPRA, Engr. Farouk Ahmed, whose agency has the responsibility to regulate activities in the midstream and downstream sectors, did not respond to Vanguard’s inquiries, yesterday on the rise in the private depots price of petrol by 6.7 percent to N240 per litre.

But checks indicated that petrol lifting is ongoing at many private depots with commercial stocks of the product.

It also showed that the NMDPRA has reopened the seven depots, including Bluefin, Rainoil, Ardova and Nepal that were shut for selling the product at over N148per litre.

Correspondents, who visited the depots witnessed them still selling petrol at over N200 per litre to desperate independent marketers.