Oil marketers sell petrol at N195 per litre as queues return to Lagos

QUEUES for Premium Motor Spirit (PMS), popularly known as petrol, returned to many filling stations in Lagos on Tuesday as marketers sold the product between N175 and 195 per litre to motorists, depending on location. 

Filling stations, where queues for petrol were noticed included Mobil Filling Stations, Capital Oil, AP, Fatgbems, Matrix, Faomen, Total, and ConOil filling stations on the mainland, among others. 

Some filling stations along Lagos-Ibadan Expressway already adjusted their pumps to N180 per litre, while few are not selling the product to motorists.

ALSO READ FROM NIGERIAN TRIBUNE 

• 10,296 Nigeria-Trained Doctors Currently Practising In UK —NMA

• Why I Won’t Campaign For Atiku —Wike

• Give Me Flood Prevention Plan In 90 Days, Buhari Orders Minister

• Lagos APC Faults Dele Momodu For Accusing Tinubu Of Plagiarising Abiola’s Manifesto

• Alaba Market Reopens Tuesday

• EDITORIAL: Yobe Children’s Alarm On Child Marriage

Speaking about the queues and increase in the pump price when contacted, operators under the auspices of the Independent Petroleum Marketers Association of Nigeria (IPMAN) confirmed the situation, saying they would not be able to sell PMS less than N195 per litre following the increase in the pump price of the product from the private depots. 

This decision to stop the purchase of petrol from the private depots by members of IPMAN until the issue is attended to has triggered the return of fuel queues in many filling stations in Lagos. 

Chairman, IPMAN, Lagos Satellite Depot, Ejigbo, Mr Akin Akinrinade, said the return of petrol queues in Lagos was as a result of the reality facing oil marketers. 

While speaking with Nigerian Tribune on Tuesday in Lagos, Akinrinade said IPMAN had directed its members to stop buying the product from the private depots due to high price. “We noticed that there is hike in the price by private depots. 

They are selling at N164 and N164 per litre and now expecting us to be selling at N177. “Also, the Nigerian Upstream Petroleum Regulatory Commission expects us to sell at a price not higher than N180 per litre. 

This is not possible because we still need to add transportation and other costs,” he said.