From Abdullateef Aliyu, Eugene Agha, Lagos; Ibrahim Gingiyu, Kano and Nabob Ogbonna, Abakaliki
The hope of Nigerians for a cheaper and affordable fuel was further dashed at the weekend as the pump price of premium motor spirit (PMS) otherwise known as petrol has been jacked up across filling stations in Lagos and other parts of the country.
This followed recent developments in the sector with widespread implications on the prices of petroleum products.
Filling stations which take supply from the 650,000 capacity Dangote Refinery in Lagos, especially MRS, adjusted their prices in line with the new reality.
The Dangote Refinery had penultimate week suspended sale of PMS in naira ostensibly as a result of the failure of the naira-for-crude policy of the federal government.
“We wish to inform you that Dangote Petroleum Refinery has temporarily halted the sale of petroleum products in naira. This decision is necessary to avoid a mismatch between our sales proceeds and our crude oil purchase obligations, which are currently denominated in US dollars.
“To date, our sales of petroleum products in naira have exceeded the value of naira-denominated crude we have received. As a result, we must temporarily adjust our sales currency to align with our crude procurement currency,” the refinery had said in a message to marketers.
Prior to the announcement, Daily Trust reported that the naira-for-crude deal between the refinery and the Nigerian National Petroleum Company Limited (NNPCL) had collapsed, raising fear of fuel price hike.
Also, as of Monday last week, the landing cost of petrol had hit N888.89 from about N800.
But checks yesterday indicated that MRS which hitherto sold at N860 per litre has jacked up its price to N930 in Lagos.
However, in Kano State, MRS and Enyo filling stations were still selling at N860 per liter while other filling stations sell between N930 to N980 while NNPC sells at N930 in Maiduguri, Borno State while other stations sell between N960 to N970.
In Lagos, most NNPC filling stations remained closed since Saturday when the new price regime was announced.
Some other filling stations, it was gathered, have also adjusted their pump price in line with the new price regime
For instance, NIPCO sold at N930 at Apple junction on the Oshodi-Apapa expressway.
Our correspondent noted that MRS at Ashiribo bus stop, Ijanikin, dispensed at N930 per litre.
Our correspondent also observed that these price changes were implemented on Saturday.
NNPC filling stations at Isashi and Cele bus stop on the Mile 2 – Badagry expressway were not dispensing while Total and AP also sold.
In Ebonyi state, a litre is now sold at 940, 950 or 960 naira per litre in some private filling stations.
Daily Trust learnt that NNPC station along the Abakiliki-Enugu highway sells at 940 per litre just like NIPCO along the Afikpo road in Abakiliki metropolis.
Others like Sarfa fillings station and Rainoil also sell at 940 per a litre.
However, other filling stations outside the state capital, Abakiliki sell at N950 and above.
Speaking with our correspondent, the National Public Relations Officer of the Independent Petroleum Marketers Association of Nigeria (IPMAN), Alhaji Olanrewaju Okanlawon, confirmed to our correspondent that fuel prices have increased across the country.
“So what will happen is that we are going to sell at the rate that we bought. Across the country, the prices have gone up. In Ilorin, Kwara State, we were selling at N885, now it is N940, N950, we don’t know what the price will be by next week,” he said.
He stated that the development is the beauty of deregulation, explaining that prices would continue to go up and down in a deregulated market.