Some filling stations yesterday dispensed Premium Motor Spirit, (PMS), otherwise known as petrol, for as high as N235 a litre, prompting the resurfacing of fuel queues in Lagos and Abuja, the federal capital.
Despite displaying the N165 a litre on their pumps, it was noticed that some filling stations sold the product above the regulated price. The decision to continue to regulate the pump price of petrol has cost the nation about N1.27 trillion since the beginning of the year.
Recently, the price of petrol has increased on the insistence of oil marketers that transportation costs for the commodity have skyrocketed due to an increase in the price of diesel. While some petrol stations were selling, some shut services in Lagos and Abuja, reducing the number of available filling stations dispensing petrol to commuters.
Over the weekend, on Lekki Expressway, the pump price stood between N180 and N200 per litre at Ardova and MRS filling stations. At MRS filling station, 6th Avenue, Festac, in the past few weeks, the product has been between N175 and N185 a litre.
Although some stations sold petrol at N165 a litre in Abuja, at some other petrol stations, the product retailed for about N235 a litre. At some filling stations in Lugbe, AMAC as well as Pykassa, Lugbe, Abuja, petrol was sold between N230 and N235.
When contacted, the NNPC and the Nigerian Midstream and Downstream Petroleum Regulatory Authority were unable to comment.
