Some petrol stations in Lagos are selling premium motor petrol (PMS) to consumers at a pump price between N215 per liter and N270 per litre, trade publication reports.
A tour of service stations in some parts of the metropolis carried out by this reporter showed that the long lines that were witnessed a few weeks ago are gradually shortening.
Several service stations visited in the Alimosho area of Lagos state are selling the product to motorists, but at a price higher than the approved rate of N170 per litre.
At a fuel station in front of the Rauf Aregbesola Medical Center, Okunola, Egbeda, the product was sold to consumers at 250 N/liter, while in the Ayobo area of the municipality, it was sold between 250 N/liter and 270 N/ liter.
In Iyana Ipaja, most of the service stations in the area dispensed fuel between N230 per liter and N250 per liter, and in the Shasha area of the state, a service station around the barracks sold the product at N215 per liter on Friday. past, although some consumers rushed to buy the product due to its lower price.
It was a similar situation at a gas station in the Akowonjo area of Lagos state, where a long queue interrupted the flow of traffic.
However, on the Island, gasoline is sold at most gas stations at a price slightly higher than the official pump price.
Long lines began to reappear in Lagos last month, and it took several days before the government explained to Nigerians why the product was in short supply.
In a statement last Wednesday, the Nigerian Midstream and Downstream Regulatory Authority (NMDPRA) urged Nigerians to remain calm as the Nigerian National Petroleum Corporation (NNPC) Limited had Imported PMS to last 34 daysnoting that the shortage was caused by a disruption in supply.
“The Nigerian National Petroleum Corporation Limited (NNPCL) has imported PMS with current stock levels sufficient for 34 days.
“Consequently, marketers and the general public are advised to avoid panic buying, product diversion and hoarding,” the agency said, adding that there were no plans to increase “the price of PMS during this time”.
The fuel shortage allowed black merchants to make more money from consumers who were desperate for gas for their cars and businesses. The product was sold for as high as N10,000 per 20 liters at a price of N500 per litre.
But at the time of this report Tuesday, most sellers of the drummed product were out of business and mostly not to be seen on main roads like they were last week.