Fuel Hike: Marketers Forecast N700/litre In Coming Days

By

Oil marketers have warned Nigerians to prepare to buy petrol for as much as N700/litre in the coming days.


This development follows the sudden petrol hike from N540 to N617 per litre on Tuesday by the Nigerian National Petroleum Company (NNPC) Limited.

The NNPCL Group Chief Executive Officer, Mele Kyari, on Tuesday, attributed the recent rise in petrol pump price from N540 to N617 per litre to market forces.

Kyari offered this explanation Tuesday following a meeting with Vice President Kashim Shettima at the Aso Villa.

Against this backdrop, oil marketers have forecasted that petrol might sell as high as N700/litre once fresh products being imported by independent firms start arriving in Nigeria, Naija News gathered.

According to the National Controller, Operations, Independent Marketers Association of Nigeria, Mike Osatuyi, Lagos residents should prepare to buy petrol for as high as N600/N620/litre. At the same time, those living up North could pay as high as N700/litre.

Osatuyi told The Punch, “The new stock will arrive any moment from the third week in July. But you know crude is now around $82/barrel, and the exchange rate is around N800. So, the new price would be determined by these two factors.”

Meanwhile, the platform gathered that marketers jerked the price from the previous N500, N510, and N520/litre to between N620 and N630/litre after the NNPCL raised its price.

This platform understands that while some filling stations in Ondo State increased their pump prices to between N620 and N630/litre, some in Kwara State sell as high as the already forecasted N700/litre.

It was learned that at NIPCO, petrol was being sold for N545 per litre, while Shafa Energy priced it at N595. At Rainoil, customers were being charged N568 per litre, Emmanuel’s rate was N560, and Neeman had the highest price at N700 per litre.

Comments

Post a Comment

Popular posts from this blog

Prostitution; Nigerian Women At Growing Risk From Human Traffickers In Germany.

By
Image
According to InfoMigrants, Nigerian women are at growing risk from traffickers in Germany who exploit and engage them in prostitution. Read the full report below by InfoMigrants. The new prostitute protection law in Germany was meant to identify victims of human trafficking – most of them migrant women. More than 18 months after the law came into effect, thousands continue to be targeted for exploitation, and the risk for Nigerian women seems to be increasing. There are campervans parked by the roadside. Some have hearts painted on them, one says “girls, girls” in red letters. It’s an easy matter for someone to stop for a quick transaction in one of these Love-Mobiles – sex with one of the “girls” in exchange for the going rate. Prostitution is mainly legal in Germany, as are these mobile brothels. But many of the women in the business – including those working from the Love-Mobiles – are victims of illegal human trafficking. Most of the women are from Eastern Europe or Nige...
Read more

FULL TEXT: A sacrifice for our new political order – Ezekwesili

By
Image
“When the ACPN leadership approached me in a series of visits to appeal that I run for office on their platform, the party appeared to be a good fit. It was founded by some disgruntled PDP members some years ago, but when its prime founder decided to return to the PDP, a core of its membership refused to move back with him. I was told that they stayed back because of their opposition to the ways of the PDP. Considering my vocal disapproval of the PDP and the APC, I admired the ACPN’s decision to stand firm and refusal to be co-opted.” It has been an interesting one week since I made the tough but necessary decision to suspend my campaign for the presidency. I have been truly overwhelmed by the reactions to my announcement from Nigerians. Even in airports outside the country as I travelled last week, Nigerians walked up to me with questions, concerns, encouragement, and motivation. I also saw disappointment by some who had poured their hearts and hopes into actualising our mission ...
Read more

Update On Slay Queen Who Was Stripped Naked And Tortured Over Missing Phone.

By
Image
The League of Patriotic Lawyers has given Edo State Commissioner of Police, Mr. Olusegun Odumosu, 24 hours to unravel those behind the torture and insertion of pepper into a girl’s private part in Benin City over alleged stealing of a mobile phone.  Chairman of the platform and former Student Union President of the University of Benin, Mr. Abubakar Yesufu, who said this in a statement yesterday, also urged the state Director, Department of State Services, DSS, to be involved in the investigation. A video of the incident, seen by Vanguard yesterday, showed the girl being stripped naked by a group of people, who inserted pepper into her private parts for allegedly stealing a phone. The unidentified girl was heard crying and saying she didn’t steal any phone, while she was being humiliated by the crowd. Yesufu said: “The League of Patriotic Lawyers has given the Edo State Commissioner of Police 24 hours to arrest and commence prosecution of all the street urchins behind thi...
Read more