Landing Cost of Petrol Now above N145 per Litre

Independent marketers of petroleum products and depot owners have revealed that the landing cost of imported petrol is now N145 per litre and above.

The marketers, who spoke with THISDAY at the weekend, said the development was responsible for their inability to import petrol with the foreign exchange provided by the international oil companies (IOCs) at N305 per dollar.

They also gave reasons why it is no longer possible for depots to sell petrol at the federal government’s approved N123.28 –N133.28 per litre ex-depot price band.

THISDAY’s investigation revealed that 13 depots that had stock of petrol at the weekend were selling between the prices of N136 and N141 per litre, against the official prices.

The South-west Zone of the Independent Petroleum Marketers Association of Nigeria (IPMAN) had even threatened to suspend lifting products from the depots over the hike in ex-depot price, saying that high ex-depot price would make the N145 per litre pump price unsustainable.

Thisday, February 13, 2017

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