Nigerians lament as PMS sells above N900

Most NNPCL retail stations yesterday adjusted their pump prices, raising the price by almost N100.

From N860 in Lagos, the pump price was increased to N922. Some motorists expressed fear that the pump price may sell at N1000 per litre in the remotest parts of the country.

Also in Kano, NNPCL stations raised the price from N905 to N968 while other filling stations have equally adjusted pump prices.

In Lagos, commercial drivers lamented over the upward review of the cost of pump price at different filling stations.

Daily Trust findings yesterday showed that many filling stations jerked up their prices. NNPC sold at N922 while eterna filling station sold at N950 in Ogba.

Prior to the recent increase, the price of fuel has been fluctuating, but many filling stations previously sold for N865, the price which was maintained for a long time before the announcement for an increase.

Some of the commercial drivers expressed concerns, highlighting the ripple effect on their businesses.

Michael Oje who plies Berger to Ogba, described the increase as outrageous, saying it has affected the expense on fuel consumption to power his tricycle.

“The increase in the price of fuel has affected many businesses. I bought at N950 per litre and I spent N35,000. When it was N865, I used to spend N19,000.

“This is not good at this time when the cost of food is still high and I feed myself with this business. I am not sure the government considers the plight of the people. The prices of several items are just increasing.

“The government should intervene,” he begged.

Tunde Adam stressed that motorists are at the mercy of market forces in the petroleum industry, saying, “The government should be doing what it wants,” he said.

Also, a tricyclist who spoke to Daily Trust stated that he had purchased the pms earlier yesterday at N860 and was returning to buy again only to be told a liter is now N922.

“If I knew the price will increase I would have charged a different price on my way down here. I even wanted to buy three liters but now I will just buy two.” He lamented.

A private motorist also expressed disbelief when the fuel attendant told him the new rate.

He said he was unaware of the increase and refused to buy from other outlets due to the credibility and fair price NNPC offers.

Also, in Abuja, the price has risen to N955 from N905.  It was learnt that the highest price is in Kwara, where petrol now sells for N975 per litre, followed by Gombe and Sokoto at N965. The lowest prices were recorded in Ondo and Osun, both at N900 per litre, according to Daily Trust finding.

NNPC adjusts pump price to N968 in Kano

NNPP retail filling stations in Kano had adjusted the PMS pump price to N968 from N905.

Most filling stations Like Aliko, AA Rano were selling at N920 since the faceoff between Dangote refinery and Petroleum Natural Gas Workers Association PENGASSAN penultimate week.

NNPC retail station at Kofar Nasarawa near Kano line adjusted to N968 on Monday. Though no reason was advanced for the increase, motorists including commercial tricycles were seen buying fuel at the station.

Kabiru Muhammed a motorcycle owner said he bought fuel at the same NNPC filling station at N905 per litre on Sunday.

Our reporter also observed that AMMASCO filling station at Gyadi-Gyadi court road has also adjusted its pump price from N930 to N960 on Monday.

However, Abubakar Danzaria, a resident, said he just bought fuel at N885 per litre at MRS filling station Sabo Bakinzuwo road, Tarauni.

There was no official comment from the NNPCL as of press time while efforts to speak with the Chief Spokesperson of the NNPCL, Andy Udey were unsuccessful.

 Cooking Gas Scarcity May End Next Week – FG

In another development, the Federal Government yesterday assured Nigerians that the recent scarcity and sharp rise in the price of Liquefied Petroleum Gas (LPG), popularly known as cooking gas, will ease by next week as supply to the domestic market stabilises.

Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo, gave the assurance, expressing concern over the sudden increase in the price of LPG from between N1,000 and N1,100 per kilogram to as high as N1,500–N1,700 per kilogram in some parts of the country.

Ekpo, in the statement signed by his spokesman, Louis Ibah, appealed for calm and understanding from Nigerians, stating that the current situation was temporary and would soon normalise.

He attributed the price surge to two factors including the industrial action embarked by the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) at the Dangote Refinery, which temporarily halted LPG loading, and ongoing maintenance work at the Nigeria LNG Train 4 facility, which reduced the volume of gas available for local consumption.

“These disruptions led to a shortfall in supply and a consequent increase in prices due to demand–supply imbalance,” the Minister explained.

He stated that the situation had begun to ease, as operations at the Dangote Refinery have resumed with the loading of LPG for the domestic market already underway.

Similarly, he added that the Bonny River Terminal operated by Seplat Energy has commenced loading activities, while Nigeria LNG is gradually restoring normal operations as maintenance nears completion.

“With these developments, supply to the domestic market is expected to stabilise by next week, leading to a gradual reduction in prices,” the statement said.

He assured Nigerians that the government remains focused on stabilising energy prices and expanding access to gas infrastructure in order to make cooking gas affordable and accessible to every home.

“Rt. Hon. Ekperikpe Ekpo reassures Nigerians that the Federal Government remains committed to ensuring sufficient and affordable gas supply to all households across the country,” Ibah said.