Emerging report reaching Post-Nigeria, on Friday afternoon, revealed that the price of fuel per litre is no longer N145, despite the repeated assurance by the Nigerian National Petroleum Corporation, NNPC, that it would not increase its petrol ex-depot price from N133.80.
Some Marketers disclosed that the price of petrol received from NNPC as of Wednesday, was N160 per litre, hence it is not profitable for them to sell at government’s regulated price of N145 per litre.
“The N160 per litre price is not fixed by us but NNPC, because the product is not ours but that of NNPC, and that is what they have asked us to sell.
“If we buy at the depot for N160 per litre, how much are we expected to sell at the filling station? It is now clear that the N145 price cap per litre is no longer realistic. Let the Department of Petroleum Resources (DPR) clamp down on depot owners, rather than sealing filling stations. It is what we buy that we will sell. We cannot run at a loss”, they lamented.