Petrol Marketers Insist On Hike In Fuel Price Amidst Hardship In Nigeria…See The Speculated Figure
They stressed that the dollar hit an all-time high last week, as it exchanged for N400 at the parallel market, and called for urgent steps to address the situation in order to sell the PMS at the approved rates.
In a move to avert a price increase, it was learnt that the government conveyed a meeting of stakeholders in the downstream oil sector on Tuesday, which was held at the headquarters of the Petroleum Products Pricing Regulatory Agency in Abuja.
A correspondent gathered that participants at the meeting included officials of the Nigerian National Petroleum Corporation, Ministry of Petroleum Resources, the PPPRA, Major Oil Marketers Association of Nigeria, Independent Petroleum Marketers Association of Nigeria, Depot and Petroleum Products Marketers Association, Nigeria Association of Road Transport Owners, as well as other concerned persons.
Explaining that the actual cost of the PMS had increased beyond the N145 per litre fixed rate, an oil dealer who attended the meeting stated that when the distribution margin for petrol was added to the ex-depot price, the real cost of the commodity was N151.87 per litre.