Scarcity: Ex-Depot Price Of Petrol Hits N128 | Independent Newspapers Limited
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Scarcity: Ex-Depot Price Of Petrol Hits N128

Posted: Mar 30, 2016 at 7:48 am   /   by   /   comments (0)

There seems to be no end in sight to the current fuel scarcity as the ex-depot price of petrol rose to an all time high of N128 yesterday from the official N76 per litre, as marketers made desperate moves to source the product to service their clients.

Indpendent investigations across some depots in Apapa and Ibafon, revealed that the hike in ex-depot price followed pressures from independent marketers to get allocations to sell to consumers who are willing to pay any price for fuel to keep their vehicles on the road. It was however not certain, at how much the marketers will sell to retail clients after buying at N128, considering that several independent marketers have been selling products for between N150 and N180 per litre within Lagos and environs.

According to the Petroleum Products Pricing Regulatory Agency (PPPRA) pricing template, ex-depot price as at yesterday remained N76.00.