Ex- depot price hits N225 per litre as petrol scarcity persists

Ex- depot price hits N225 per litre as petrol scarcity persists

•Marketers urge NNPCL to stock product for 60 days •Pricing gap widens to 34%

Ex-depot price of petrol has risen by five basis points to N225 per litre, according to a survey of independent petroleum marketers.

Motorists and commuters continue to groan as petrol scarcity remains.

The pricing gap between regulated retail price by major oil marketers and the independent petroleum marketers widened to as much as 34 per cent.

The strenuous long queues at major oil marketers’ stations and the bloated price at the independent marketers’ stations, left motorists with the hard choices.

Worse still, the absence of effective monitoring by the regulatory body has created a loophole for the oil majors, with many engaging in underhand tactics to short-change motorists.

A major oil marketer runs a policy of compelling motorists and other users to buy its other products such as liquid car wash gel, engine oil and automatic transmission fluid (ATF) in consideration for purchase of petrol at regulated price of N169 to N170 per litre.

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