Petrol Price Jumps Above N110 Nationwide

FUEL-SCARCITY-PERSISTS-IN-ABUJA

The price of petrol rose above the official one. Nigerians all over the country complain that they have to buy petrol for N110 and above instead of N87 per litre.

According to the Punch, the filling stations in Owerri, Imo state, are selling pertol above the pump price.

“If there is anything Buhari has to do to stabilise Nigeria, the first thing is to ensure regular power supply and keeping the pump price of petrol at N87,” said a motorist, Mr. John Okorie, who expressed disappointment at the N110 pump price.

In Akure and other towns of Ondo state, the price reached N120 per litre.

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A motorist, Mr. James Fayehun, blamed the President in failing to sanction dealers who have been defaulting on the regulated price.

In Edo state, the product was not available in most filling stations that led to long queues by motorists at the few stations that were dispensing petrol.

In Minna, Niger state and in Asaba, Delta state, most filling stations are selling for N110 and N115.

In Kano and Kwara states, the commodity sells for N110 and N130 per litre.

Independent marketers in Calabar, Cross River state, pegged the price of PMS between N105 and N110 per litre.

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In Osun state, most petrol stations sell a litre of petrol for N110 even though the price stated on their fuel dispenser is N87.

The price of the petrol in Bauchi state fluctuates as the price ranges between N87 and N110.

In Oyo state, there is hardly any filling station selling petrol at the official pump price of N87 per litre. At least, 95 per cent of the major filling stations no longer sell the product as they claim they cannot get the product at rates that will make them sell at the official pump price.

In Ekiti state, where the product also sells for not less than N110.

Meanwhile, experts have said that petrol subsidy arrears have continued to rise, in spite of the hike in the price of petrol by marketers. About two months ago, it was revealed that petrol subsidy arrears had hit N291bn.

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Speaking about the currect subsidy claims, the executive secretary of Depot and Petroleum Products Marketers Association, Mr. Femi Adewole, claimed that the figure had increased.

“I don’t have the figure, but I know that what former Minister of Finance, Dr. Ngozi Okonjo-Iweala, handed over was N291.7bn. We have imported some cargoes after that and PPPRA has yet to advise our members because it does the calculations,” he said.

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