Investigation: PMS retails above N1,000 per litre in Warri, despite price reduction by NNPCL, Dangote

Fresh Angle International, can authoritatively report that despite the reported reduction in the price of Premium Motor Spirit, PMS (fuel) by the Nigerian National Petroleum Company Limited, NNPCL and Dangote Refinery, filling stations in Warri and environs, were selling PMS above N1,000 per litre as at today, Monday December 23.

The Nigerian National Petroleum Company Limited (NNPCL) had reportedly reduced its ex-depot prices of Premium Motor Spirit, petrol to N899 from N1020 per litre for oil marketers.

Petroleum Products Retail Outlets Owners Association of Nigeria, PETROAN, spokesperson Joseph Obele disclosed this in a statement on Saturday.

Petrol, which sold at N1,020 per litre, also reportedly dropped to N899 per litre after the Dangote Refinery in Lagos, slashed the product’s price to N899.50k for marketers, last week.

But investigations by This Flagship Niger Delta Online Newspaper, on Monday December 23, revealed that gas stations in Warri and environs, sold PMS between N1,060 and N1,100 per litre.

Whilst CC and VIC in Jeddo, Okpe Local Government Area, sold a litre of PMS for N1,100 last night (Sunday December 22) the station dropped the price to N1,060 this morning, Monday December 23.

At Rainoil along the NPA Expressway by Ugbuwangue, a litre of PMS sold for N1,070, while A& E Petrol, which is few meters away, sold a litre for N1,060. Jefojo filling station, by the NPA Old Port Gate, sold a litre for N1,090.

Our Managing Editor, who visited Sudoz Filling Station, along Okere Road, close to the Nigerian Correctional Service, Warri, reports that the station sold a litre for N1,100 on the ground that they were dispensing old stock. Conoil, opposite the Naval Base, Warri, was selling a litre of fuel for N1,100 as at the time of this report, with officials of the company claiming that the price reduction by NNPCL does not affect their retail price.

Further checks by This Tabloid, indicated that despite the reduction in the price of PMS in Warri and environs, the cost of transportation appears set to further increase, as transporters hinged their position on the cost of vehicle maintenance and the activities of policemen on the road.

Before fuel was sold between N1,200 and N1,400 per litre in Warri and environs, the shortest drop for commercial buses and tricycles, was averaging N100, but the price shot up to N150 per for the same distance, as soon as the price of PMS increased to between N1,200 and N1,400 per litre.

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