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Petrol sells for N220 per litre in Lagos, N235 in Abuja as scarcity worsens

Petrol sells for N220 per litre in Lagos, N235 in Abuja as scarcity worsens
July 11
15:18 2022

Some filling stations sold premium motor spirit (PMS), also known as petrol, for as high as N235 a litre on Monday, according to checks by TheCable.

Despite displaying the N165 a litre on their pumps, TheCable noticed that some filling stations sold the product above the regulated price.

The decision to continue to regulate the pump price of petrol has cost the nation about N1.27 trillion since the beginning of the year.

Recently, the price of petrol has increased on the insistence of oil marketers that transportation costs for the commodity have skyrocketed due to a spike in diesel price.

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“For you to load a litre of petrol, you will pay N162 per litre. You will have to add the cost of transportation which is between N6 to N8, depending on the distance within Lagos. If it is outside Lagos, it is much more than that,” Akin Akinrinade, chairman, Lagos satellite depot, Independent Petroleum Marketers Association of Nigeria (IPMAN), had said. 

“Also, some others shut down services.”

While some petrol stations are selling, some shut services in Lagos and Abuja, reducing the number of available stations dispensing petrol to commuters. 

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LAGOS

On Monday, G and G petrol station at Ogba sold petrol for N220 a litre, while the Nigerian National Petroleum Company (NNPC) filling station at Ogba sold the product at N180 a litre.

Over the weekend, at Rosebol petrol station, Ipaja, petrol was at N180 a litre and N190 at Mao filling station, Kola.

Ardova filling station, Ayobo, dispensed the product at N200, while the company’s filling station at 21 Road, Festac, sold the product at a regulated price of N165 a litre. 

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At MRS filling station, 6th Avenue, Festac, in the past few weeks, the product has been between N175 and N185 a litre. 

On Lekki Expressway, the pump price stood between N180 and N200 per litre at Ardova and MRS filling stations.

A motorist who, on Friday, bought petrol for N200 a litre at Remdabson, Ikorodu, told TheCable that he waited for more than five hours in the rain to be able to fuel the tank. 

ABUJA

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Although some stations sold petrol at N165 a litre in Abuja, at some other petrol stations, the product retailed for about N235 a litre.  

At some filling stations in Lugbe, AMAC as well as Pykassa, Lugbe, Abuja, petrol was sold between N230 and N235. 

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EKITI

Petrol sells for N190 per litre at Sola dola filling station, located in Ajilosun, Ado-Ekiti. At another filling station located at Similolu, Ado-Ekiti, the product was sold for N200. 

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NASSARAWA 

At One Man Village, Nassarawa, stations dispensed at N230 per litre. 

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TheCable has contacted NNPC and the Nigerian Midstream and Downstream Petroleum Regulatory Authority for comment.

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