Oil marketers have blamed persistent logistical issues for the current shortage of Premium Motor Spirit, or gasoline.
Billy Gillis-Harry, President of the Petroleum Products Retail Outlets Owners Association (PETROAN), made this revelation during his Monday appearance on Channels Television’s Morning Brief.
He asserts that oil marketers might distribute only what they have because supply is currently limited.
He said:
When asked to give further explanation on what the logistics challenges were all about, he said:
However, he gave his word that marketers and the NNPCL were discussing supply issues.
He said:
Gillis-Harry’s explanation of the scarcity follows protracted shortages, particularly in Lagos, the country’s north, and other areas.
Over the course of the weekend, though, the shortage reached Lagos. According to Channels Television, some filling stations have started selling a litre of the product for between ₦800 and ₦1,000, which has increased the cost of transportation.
But other gas stations weren’t selling the merchandise because black market rackketeers were taking advantage of the circumstances to make quick cash.
According to reports that surfaced last week, the Nigerian National Petroleum Company Limited owed foreign oil dealers money, which was the reason for the scarcity.
Olufemi Soneye, NNPC’s chief corporate communications officer, however, refuted the report in a statement on Sunday.
Soneye said since transactions in the oil trading industry are done on credit, it is common to owing money occasionally.
TimesNow.com.ng earlier reported that filling stations in Abuja, Lagos, and other states have again adjusted their petrol pump prices upwards amid worsening fuel scarcity that has frustrated motorists and commuters.
The price hikes, which vary across regions, have added to the growing burden on Nigerians grappling with the rising cost of living.
TimesNow.com.ng observed that motorists were buying fuel at some open filling stations at prices ranging from N750 per litre to as high as N900 per litre, depending on locations.
Proofreading by James, Ojo Adakole, journalist and copy editor at TimesNow.com.ng.
Source: TimesNow.com.ng
