The supply of petrol has fallen considerably seeing as many oil marketers have become unwilling to import the product as the exchange rate of the Naira to US Dollar worsens. Many marketers are also facing delayed subsidy payments as well as rising interests on loans from banks and these have further discouraged them. In Lagos, […]
The supply of petrol has fallen considerably seeing as many oil marketers have become unwilling to import the product as the exchange rate of the Naira to US Dollar worsens.
Many marketers are also facing delayed subsidy payments as well as rising interests on loans from banks and these have further discouraged them.
In Lagos, many filling stations did not sell petrol but those that were open for business had long queues of motorists to contend with.
Although their pump prices remained N87 per litre, black market operators sold 10 litres for N1,200, i.e N120 per litre.
Although most of the stations sold petrol at the regulated price of N87 per litre, some stations have risen their prices as high as N100 per litre.
The scarcity in Ondo State which began on Thursday worsened on Sunday. Petrol sold for between N95 and N110 per litre in filling stations that were operational.
