Oil Marketers Adjust Petrol Pump Prices to Sell at New Costs, Set Date to End Scarcity .

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Filling stations in Nigeria have reportedly adjusted their pump prices upwards following the scarcity of the product Investigations show that petrol is now selling for between N750 and N800 per litre in parts of Nigeria The Independent Petroleum Marketers Association of Nigeria (IPMAN) said it will take two weeks to restore the supply.

Filling stations across Nigeria have adjusted their pump prices following the scarcity of petrol, which has entered the second week.

findings show that petrol stations in Lagos, Abuja, Port Harcourt, and Kano have adjusted their prices upwards due to the scarcity. 

Filling stations sell petrol at higher costs Most petrol stations selling the product in Lagos adjusted their pump prices to N750 per litre from the N630 they sold the product before the scarcity began. 

Information from the fuel attendant, that the new prices were not just due to the scarcity but also because freighting costs have skyrocketed due to diesel prices. One David Adigun at a Mobil petrol station in the Lagos area said that the prices increased due to the time and resources it takes to truck the product to the station. 

He also said that part of the reason the scarcity had persisted was logistics. “Right now, logistics is one of the top reasons we are experiencing scarcity because not only is the product not available, but it takes a lot of money to move to our stations,” he said. 

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