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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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" MOMAN is not interested in hiking fuel price'



By Akinola Ajibade


Major Oil Marketers Association of Nigeria,MOMAN has ruled out the possibility of increasing the price of Petroleum Motoring Spirit (PMS) otherwise known as fuel, despite the scarcity of the product in the country.

Its members include Conoil, AP( Ardova Plc),  MRS, OVH Energy, Total Energies and 11 Plc.

The group, in a statement, made available to the News Mirror at the weekend,  said that it would sympathize with Nigerians, expecially customers over the current challenges encountered in the course of obtaining fuel for their domestic and industrial usage by refusing to increase the price of the product, as against adding to their woes. 

This came, as fuel scarcity bites harder nationwide, with resultant effects on homes, who rely on generators to survive the epileptic supply of electricity in the country.

According to MOMAN, the problem itself is  huge, a development, which informed its decision to see that the product is sold at the pump at prices currently approved by the regulatory authorities in the country.

Continuing further, the group observer that there are queues across the country, stressing that they are caused by exceptional high demand and bottlenecks in the fuel.

Speaking on the issue, the body attributes the cause of fuel scarcity to  shortage and high(US Dollar)costs of daughter vessels for ferrying product from mother vessels to depots along the coast. 

Others,the group, said include inadequate number of trucks to meet the demand to deliver product  from depots to filling stations nationwide and the decision by some marketers ( not MOMAN) to sell the product rates, which they believe are higher and increase their profits.

“These high logistics and exchange rate costs continue to put pressure on prices at the
pump.Over the past three months,staff& management of MOMAN companies have
worked diligently at depots and filling stations to relieve the stress faced by customers
through the Christmas and New year period.

“Our members have again agreed to extend
depot loading hours as well as keep strategically situated service stations open for longer hours to ease access to fuel for our customers.

“A final resolution to these challenges will be the full deregulation of the petroleum
downstream sector to encourage liberalization of supply and long-term investments in
distribution assets.We urge the government to work towards this end goal” 



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