Private depots have raised petrol price to N770/litre – Marketers

For those lifting the product as far as Kebbi State, Maigandi said the cost of haulage to Lagos is about N70/litre.

According to him, petrol sells at between N900 and N1,000 per litre in Birni Kebbi.

READ ALSO:

• Police declare wanted Ogun landlady, husband who dumped tenant’s corpse in canal
• 17 abducted passengers in Katsina regain freedom
• Tinubu won’t allow frustration of Rivers State Govt operations – Presidency

His words: “It is a little bit available now because there is no queue. But the only thing is the cost in the private depots. They sell it at N770/litre.

“They are complaining about the transportation for their cargoes from the high sea. That is the reason they increased the price.

“At that rate, the pump price depends on the distance. Where you will spend N30 like in Lagos, if you add N770 plus N30, it is N800.

“Then they have to add the margin for the profit because the capital you are going to use is almost N30 million plus. The capital to buy the product. “Like 45,000 litres. If you multiply 45,000 times by N770, you will see the amount. Within Lagos, you have to pay N30 or N35. Then when you are coming to the Northern part, it is N60 to N70. In Kebbi, a litre of petrol is N900 to N1,000/litre.”

Asked to proffer a solution to the petrol price crisis, the IPMAN National President said respite would come when Dangote and the Port Harcourt Refineries started production.

“The solution is let Dangote start its PMS. And if the Port Harcourt Refinery starts producing, the price will be lesser,” he said .

Private depots have raised petrol price to N770/litre – Marketers