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Why dealers sell Petrol above N86.50 •As Depot owners adopt secret sales

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Investigations have revealed that petroleum dealers will continue to sell Premium Motor Spirit (PMS) above N100 per litre to motorists as a result of N100 per litre ex-depot price at the private fuel depots in Lagos and payment of N10 per litre over the approved ex-depot price of N77 approved by the Petroleum Products Pricing Regulatory Authority (PPPRA).

Contrary to the approval of a ceiling ex-depot price for other marketers by the PPPRA as directed by the Minister of State for Petroleum Dr. Ibe Kachikwu, depot owners have adopted secret sales strategy to avoid sanction. “At the same time, disclosure of amount paid per ex-depot price is being threatened with the risk of blacklist by the clique of depot owners. “A dealer known to have links with journalists will automatically not lift PMS from any of the private fuel depots in Lagos,” a depot official disclosed.

The official disclosed that sale of PMS at N77 per litre ex-depot is not possible now until volumes imported before receiving the directive of the Petroleum Ministry about the suspension of subsidy payment are exhauste. He disclosed that the need to break even is also another reason dealers are taking PMS to other stations outside Lagos ” We cannot sell PMS purchased at N99 per litre ex-depot at N86.50 per litre in our filling stations in Lagos due to monitoring of stations by officials of the DPR,” he said

Another official of a petroleum marketing company, disclosed that the travails of marketers are worsened by activities of various union organisations at fuel depots. According to him, the payment of various dues to the union led by the National Union of Petroleum and Natural Gas workers (NUPENG) and Petroleum and Natural Gas workers is a major reason for sale of PMS outside Lagos.

However, two marketers disclosed that anybody granted approval to lift PMS must pay N10 per litre to enjoy supply at Mosimi depot.

” It is no longer a sin for a marketer to pay N 10 per litre on a litre of PMS being lifted at NNPC depot. What Nigerians are demanding is outright subsidy removal so that there will be competition. As for now, except there is a review most marketers will not import, he lamented.

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