Energy Crisis: Fuel price increases in Delta as MOMAN expresses fears over sustenance of supply framework

The price of Premium Motor Spirit, PMS, popularly known as fuel, is on the increase in Delta State, even as Major Oil Marketers Association


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Energy Crisis: Fuel price increases in Delta as MOMAN expresses fears over sustenance of supply framework


 

The price of Premium Motor Spirit, PMS, popularly known as fuel, is on the increase in Delta State, even as Major Oil Marketers Association of Nigeria, MOMAN, has expressed fears that the current supply framework of the product, cannot guarantee steady and consistent supplies to the country.

 

An Exclusive Investigation conducted this morning, Thursday June 23 by some members of Our Editorial Team, revealed that within the last 24hours, a couple of filling stations in Delta state, stopped sale of petroleum products, while filling stations opened to customers in Warri South, Uvwie and Okpe Local Government Areas within the state, were selling fuel between 165 and 200naira per litre as at the time of this report.

 

Findings by Fresh Angle International, revealed that Rain-Oil at Osubi, Nero Filling Station, Osubi, Niyi Filling Station, Osubi, Supasa Oil and Gas Limited, Jeddo, Coastfield Limited, Jeddo as well as VIC and CC, Jeddo, all in Okpe Local Government Area, sold a litre of fuel at N165, N180, N200, N180 and N180, respectively. VIC and CC, Jeddo, didn’t open for business as at press time.

 

The situation was not any different in parts of Effurun in Uvwie Local Government Area and Warri, in Warri South Local Government Area.

 

In Warri, Rainoil at Ugbuwangue sold for N170 per litre, while A&E Petrol, Ugbuwangue, which usually sells a litre of fuel for the Federal government regulated price of N165, did not sell the product this morning. Sach Oil, Off the NPA By-Pass, by Ugbori and Vinot Petrol, along the NPA Expressway, Ugbuwangue, were also not selling as at the time of this report.

 

One of Our Correspondents, observed a very long queue at Rainoil in Osubi, which sold a litre of fuel for N165 as at yesterday and this morning.

 

Meanwhile, the Major Oil Marketers Association of Nigeria MOMAN has blamed the current scarcity of petrol in the country, on supply inadequacy in the last few weeks and the distribution challenges created by the unavailability as well as continuous surge in International prices of Automotive Gas Oil (diesel).

 

In a statement released yesterday, Wednesday June 22, MOMAN, noted: “As an Association, we fear that the current supply framework cannot guarantee steady and consistent supplies to the country, given the current state of Government finances and unpredictable international supply shortages. We, therefore, recommend a gradual price deregulation with targeted palliatives (eg transport and agricultural subsidies) to the public to ease implementation”.

 

 

The statement e-signed by the Chairman and CEO/Executive Secretary of MOMAN, Olumide Adeosun and Clement Isong, respectively, added inter-alia: “MOMAN members are working with The Authority, NNPC/PPMC, NARTO and other industry stakeholders to make the product (petrol) available at the pumps and eliminate the queues as quickly as possible.

 

In the interim, MOMAN recommends:

 

·         The current single supplier strategy be reviewed.

 

·         The Federal Ministry of Petroleum Resources, in collaboration with the Ministry of Finance and other relevant MDAs, should set up a taskforce to immediately focus on increasing diesel supply through accelerated initiatives to increase local modular refining capacity. This move will tackle the supply and distribution challenges.

 

·         Phased rehabilitation of existing NNPC refineries to hasten supply of middle distillates (AGO & ATK).

 

“MOMAN recognizes and closely associates with the need to ease challenges with respect to high energy and transportation costs occasioned by extraneous circumstances.

 

“MOMAN shall continually do its best to distribute petrol to its customers across the country and keep exploring opportunities to partner with industry stakeholders. The Authority, and the Government to ensure the sustainability and institutionalization of a viable petroleum downstream sector in Nigeria. The full deregulation of the petroleum downstream sector and full implementation of the Petroleum Industry Act (PIA) 2021 clearly remains the most viable long-term solution to the country's supply and distribution challenges”.



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