
Concern has been raised by independent petroleum marketers regarding the increasing cost of Premium Motor Spirit, or PMS, or gasoline, in private depots, which is now N710 per litre.
There are lines at some stations run by major marketers and the Nigerian National Petroleum Company Limited (NNPCL), where pump prices are lower at N610 and N568 per liter, respectively. The increase also caused petrol pump prices at outlets run by independent marketers to rise to between N730 and N750 per litre.
The products were offered for between N701 and N735 per litre, but a visit to the private depots in the Lagos neighborhoods of Satellite and Apapa revealed that prices varied. Bovas Depot, which charged independent marketers N762 per liter for gasoline, and MRS Depot, which charged N735 per liter, were the depots with the highest prices.
The majority of major marketers own tank farms in Lagos and they buy directly from NNPC,” said an independent marketer who spoke on the condition of anonymity. Since NNPC mostly supplies large marketers, the scarcity has somewhat lessened, but since we independent marketers rely on these huge marketers for our product needs, we are having difficulty.
“The big marketers sell to us at N705, the lowest being N701 per litre, and they buy at NNPCL rates of N548 to N550 per liter. Although these large marketers operate filling stations in other states than Lagos, they charge between N610 and N620 per liter in Lagos.
The price at the private deports’ stations will immediately adjust for our members who purchase from them because they sell at a greater rate than big marketers.
Leave a Reply