Gasoline shortage looms over warehouse closures
A shortage of Premium Motor Spirit (PMS), commonly known as gasoline, is inevitable as depot owners are rumored to have closed production on Monday.
Warehouse owners closed operations under the pretext of lack of goods.
According to national vice president Alhaji Abubakar Maigandi of the Independent Petroleum Marketing Association of Nigeria (IPMAN), owners have been closing their stores due to an alleged increase in gasoline prices.
Despite rumors, the Pipeline Products Marketing Company (PPMC) has yet to announce a new reseller price to marketers.
He told The Nation by phone that the owners of the deposit had already raised the price of the N7.
According to the National Vice President, the value of deposits increased from 148 to 155 euros.
According to him: “The depot owners are also closing due to the expected rise in gasoline prices. Store owners raised the price from N138 to N145. “
He noted that IPMAN still had to ask its members to raise the price of the pump because he was not sure if the depots were regulating their prices legally or illegally.
Rumors of an impending hike in gasoline prices became commonplace as the price of crude oil soared to $ 60 a barrel.
The cost of petroleum products is one of the components of the total cost of landing gasoline in the pricing model of the Petroleum Product Price Regulatory Agency (PPPRA).
In addition, just last Thursday, industry stakeholders very covertly referred to a plan to raise gasoline prices when the federal government said it was awaiting the results of organized workshops before raising transportation costs from € 7.51 to € 9.11 per liter. …
The cost of transportation is also a contributor to the total landing cost in the agency’s pricing model.
The Nigerian Road Owners’ Association (NARTO), at its 21st Annual General Assembly in Niger State, called on PEF Executive Secretary Alhaji Ahmed Bobby to begin determining the cost of transportation N9.11.
When asked when the federal government would begin realizing the new value, Nigeria National Petroleum Corporation (NNPC) Group Executive Mala Mele Kyari told reporters that PEF ES “issued a statement that there is. This is an ongoing commitment between the federal government and the trade unions, and upon completion of this process, the government will issue an appropriate decree on the effective date of this figure contained in the pricing model.
Source: – The Nation