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Fed Govt Slightly Reverse The Price of PMS

Queue at the filing station  The President,  Petroleum Products Retailers Owners of Nigeria( PETROAN), Dr Billy Gills Harry, says the reduction of the product, by the Nigerian National Petroleum Company Limited( NNPCL) is good for the nation'struggling economy, as it would help in soften the difficult situations posed by the sharp rise in the price of petroleum products. While reacting to the issue through a statement issued and signed to the NEWSMIRROR yesterday, Harry said that the slight reversal of the price by NNPCL shows that the government is committed to the alleviation of the problems of the masses. According to him, the reduction in the price per litre of Petrol Motoring Spirit( PMS) from N1,020 per litre to N899 per litre is good, adding that the country will soon get over its problem, if the readjustment of the economy continues. Also, PETROAN's Public Relation Officer, Dr  Joseph Obele said that Dangote Petroleum Refinery had earlier started the r...
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Scarcity: Fuel sells for N200 per litre in Oyo, Ogun


By Akinola Ajibade


Marketers within Oyo and Ogun states respectively, yesterday, sold petroleum products at  between N195 to N200 per litre, as the scarcity bites harder. 

The News Mirror gathered that long queues of motorists resurfaced in major parts of the cities in the two states, a development, which informed the decision of the Independent Petroleum Marketers Association of Nigeria (IPMAN), which struggled have fuel to raise the pump price to almost N200 per litre.

Its Chairman, Ibadan Depot, Mr. Mutiu Bukola, said that marketers are selling fuel at the rate of N200 per litre, because N185 per litre, which they hitherto sold the product was no longer sustainable due to rise in the landing cost of fuel. 

Currently,there are long queues of commercial buses, cars and private vehicles at the majority of the petroleum stations in Ibadan, the Oyo state capital.

Bukola said that his members would increase the pump price.

He said:”We can not buy petroleum in Lagos again. Whatever we see, they are selling for us at the rate of N178 without transport. The landing cost is now N195. If we buy at the rate of N178, it will take a minimum of N12 to get to Ibadan. If you add N178 to N12 you will know how much it will cost.

“We are struggling to ensure that queues are no more in the petroleum stations. But, we will be selling at the rate of N195 to N200 to avoid long queues in Oyo and Osun states”.

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