Why N1,350 petrol price is yet to take effect — Marketers

Petroleum marketers have explained why the Federal Government’s proposed N1,350-per-litre petrol discount has yet to reflect at filling stations across Nigeria.

According to DAILY POST, Finance Minister Taiwo Oyedele announced a 30-day discount last Thursday, setting petrol at N1,350 per litre at NNPCL outlets.

However, a survey on Monday showed NNPCL stations in parts of Abuja selling at N1,370 per litre, while other filling stations charged between N1,370 and N1,410.

PETROAN President Billy Gillis-Harry attributed the volatility to speculation and uneven application of the intervention.

“It is due to speculation. Right now, we have just one dominant refinery and some imports. So that is possible.

“​If demand is too high, it can affect price. There’s nothing to panic about. Eventually, the price will be stable,” he said.

IPMAN President Abubakar Maigandi also urged Nigerians to avoid panic buying and called on the government to extend the discount to independent marketers rather than limiting it to NNPCL stations.