Rising Petrol Price Hits N300 Per Litre

The scarcity of Premium Motor Spirit, popularly called petrol, grew worse across the country on Thursday, as massive queues were witnessed in Abuja, Lagos, Port Harcourt, Calabar, Warri, Nasarawa, Minna, among other places.

Oil marketers stated that the scarcity became worse due to the fact that dealers could hardly access the product from the only two depots that were dispensing the commodity in Lagos State as of Thursday.

The few filling stations, particularly those of independent marketers, that dispensed the commodity on Thursday, sold it at between N250/litre and N300/litre, depending on area of purchase.

Oil marketers told our correspondent that over 1,000 tickets, belonging to marketers which had paid for products, remained unattended to, at the few depots that dispense the commodity in Lagos.

It was gathered that the tickets, which were for over 1,000 tankers, had continued to pile up due to the pressure on the two depots, namely MRS and Pinnacle.

It was also gathered that the cost of petrol could have been increased quietly by the Federal Government, as stations that used to sell the approved price of N179 – N180/litre had raised their prices to between N185 – N190/litre.