Filling stations across Nigeria may be forced to adjust their pump prices once more as the ex-depot price of petrol experiences a significant increase….READ FULL ARTICLE HERE
According to the Independent Petroleum Marketers(IPMAN), Premium Motor Spirit, PMS, or petrol, in private depots has now increased to N710 per litre.
Vanguard reports that some private depots in Lagos’s Satellite and Apapa areas are also selling for as high as N735 per litre.
INVEST AS LITTLE AS N1000 OR MORE INTO OUR FOOD COMPANY TO GET 50% PROFIT AND REFUND OF YOUR INVESTMENT MONEY IN SEVEN DAYS.
The ex-depot price of petrol is the price at which depot owners sell petrol to retail outlets in Nigeria. It determines how much petrol stations sell to motorists.
Depot prices have become a concern for marketers, and this might force filling stations to set retail prices as high as N750 per litre or more so that motorists can make a profit.
Only the Nigerian National Petroleum Company Limited (NNPCL) sells petrol cheaper, at N610 and N568 per litre.
A marketer quoted said:
“The major marketers purchase fuel at the NNPCL rate of N548 to N550 per liter and sell it to us at N705, with the cheapest price being N701 per liter.
“These marketers have filling stations in Lagos and other states, where they sell fuel at N610 to N620 per liter.
“IPMAN stations in Lagos are struggling because the price difference makes the market highly competitive.
“Our members outside Lagos are able to sell at higher prices, benefiting from the regional price variations.
“When we buy from these major marketers at N705 per liter, NUPENG charges us based on the number of liters purchased, and we add a transportation cost of N15 to our filling stations. Consequently, the pump price ranges from N740 to N750 per liter.”….READ FULL ARTICLE HERE