Fuel: FG threatens to shut down filling stations selling N1,000/litre

Fuel: FG threatens to shut down filling stations selling N1,000/litre

Many filling stations operated by independent marketers have raised petrol price to N1,000/litre from the approved N640/litre.

Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), which gave this report, threatened to shut down such reculcitant filling stations.

There is a public outcry over stark difference between prices of petrol at filling stations operated by the Nigerian National Petroleum Company Limited (NNPCL) and those of independent marketers as long queues continue to persist nationwide.

This sharp increase contrasts starkly with the prices at the NNPC outlets, where petrol is sold for between N568 and N617 per litre, often leading to long queues at these stations.

But independent oil marketers have defended the hike, saying they have been purchasing petrol from private depot owners at prices as high as N850 per litre.

NMDPRA spokesperson, George Ene-Ita, disputed the claim, stating that the prices reported by the agency’s officials at the depots differed significantly.

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“Our depot personnel report different figures because we require them to publish daily prices, and it’s certainly not N850 per litre,” Ene-Ita explained.

When confronted with reports of some filling stations selling petrol at N900 to N1,000 per litre in Lagos and other states, Ene-Ita said such stations would face closure.

“If we find these outlets, our course of action is to shut them down. NNPC sets the ex-depot prices, and we work together to determine the margins. There’s no justification for such a high pump price,” he said.

Ene-Ita further expressed disbelief at the high prices being charged by independent marketers, stressing that NMDPRA’s records do not support such figures.

“Once we identify these outlets, we will shut them down. The prices set by NNPC should not lead to pump prices exceeding N650 per litre,” Ene-Ita reiterated.

The NMDPRA spokesperson also issued a strong warning to marketers, urging them to stop profiteering, and assured Nigerians that the agency would not tolerate operators cheating the public.

Fuel: FG threatens to shut down filling stations selling N1,000/litre