‘Petrol price jumps to N630/N680 per litre’
The price of premium motor spirit (otherwise known as petrol) has increased to N630 and N680 per litre at filling stations in some northern states.
States where petrol is being sold at such prices include Niger, Benue, Kano and Plateau, according to a report. Petrol sellers’ union known as Independent Petroleum Marketers Association of Nigeria (IPMAN) allegedly said fuel trucks used in conveying the product now get diesel at a higher cost than they previous did.
Ukadike Chinedu, spokesman for IPMAN, explained the reason for the increased price: “You know that because we are importing PMS, the products come in through the coastal areas. So trucks travel several kilometres to come and get products from these coastal areas and distribute them to the far North and other distant regions.
“We have problems associated with logistics. The forex rate and diesel price are also key issues. The price of diesel is about N1,200/litre. We use diesel to move the trucks that convey products to filling stations.
“We also have bad roads, as most of these trucks spend close to one week on roads while trying to move products to retail outlets. All these things are expenses and at the end of the day it will definitely add to the pump price.”
The price of diesel rose from N610/litre to N615/litre at depots, thereby filling stations to equally raise their prices from N630/litre to N680/litre.
Credit: Punch
