Latest on new price of petrol for NigeriaImageWetin we call dis foto,Queues don already start to dey appear for fueling stations sake of di tori of fuel price increase
8 hours wey don pass
Just few weeks into di new year, Nigerians don dey brace up for anoda increase in di price of premium motor spirit (PMS) wey pipo know as petrol.
Dis dey come as di kontri current biggest functioning refinery - Dangote Refinery - don already clear demsef from di increase even wen e neva fully take effect across di kontri.
As at today, fuel stations of di Nigeria National Petroleum Corporation Limited (NNPCL) still dey sell at N925 for Lagos and N965 for Abuja, but staff of one of di fuelling stations for Abuja tell BBC Pidgin say, "I dey sure say within dis week dem go give us instruction on wetin di new price go be".
On how much dem expect di new price go be, di staff wey no wan to publish im name bicos e no dey authorised to speak to tori pipo, tok say e go be around N1,040
Dem explain say di increase na sake of di about 15% increase for di international price of crude oil "wey don see Brent Crude rise from $70 to $82 in a matter of days".
However, di refinery say na only 5% adjustment dem make to dia price of petrol from N899.50 to N950, and dem promise say dia partner fuelling stations go continue to dey sell fuel at N970 per litre.
Dangote refinery add say if dem transfer all di cost from di rise in crude prices to di consumer, di real retail price of PMS for be around N1,150 to N1,200.
NNPC recently announce say dia Port Harcourt and Warri refineries don start to dey work again, so e no too dey clear now how much petrol NNPC dey offtake from Dangote refinery, if at all.
Independent marketers increase pricesh
Wetin we call dis foto,Motorists queue for NNPC fueling station to fit buy fuel bifor di price increment go start
Checks for oda independent fueling stations show say stations wey bin dey sell fuel for N970 last week don increase to between N1,050 and N1,090 per litre; dat na about N90 to N120 increase. Dis na within Abuja and di neighbouring Nasarawa and Niger States.
Already, long queues don dey appear for several fuel stations for Abuja, especially di ones wey still dey sell petrol for below N1000 per litre, as e fit be say car owners dey try to buy bifor di price increment go come into effect.
Alhaji Yakubu Dimka, a former national executive member of di Independent Petroleum Marketers Association of Nigeria (IPMAN) tell BBC Pidgin say, fluctuations for di price of petrol for Nigeria na wetin pipo suppose to dey expect since di removal of subsidy.
Oga Dimka tok say di global price of crude oil go continue to dey impact on retail price of petrol, but di impact now no go dey as serious as e for be if Nigeria still dey rely 100% on imports.
"Di price of fuel now no go eva be di same tin, e go dey go up and e go dey come down. E depend on how di marketer take buy. And we wey be independent marketers no fit say exactly how much di pump price go be," e tok.
About dis recent reported increment, Oga Dimka tok say NNPC dey try to update dia system wit di latest ICT equipment wey go enable dem dey track and monitor loading of trucks and sales of products for dia stations in real time to prevent diversion of products.
"Di less loading of trucks by NNPC na wetin cause di shortage of products to independent marketers and cause di slight increase in price," oga Dimka explain.
Di international price of crude oil rise to a 4-month high dis January afta di U.S. bin sama anoda fresh sanction against Russian oil.
Di International Energy Agency tok say dis new sanction go significantly affect Russian oil supply", but e go also affect distribution chains worldwide.
Since Nigerian President Bola Ahmed Tinubu announce di removal of fuel subsidy in May 2023, di implication be say di price of petrol for di kontri go dey determined by market forces wey include di global price of crude oil, foreign exchange rates and oda factors.
However, Nigeria no longer dey heavily dependent on imported petroleum products since di start of Dangote refinery in Lagos, and di recent coming back on stream of two goment-owned refineries for Port Harcourt and Warri, all in di southern region of di kontri.
https:// BBC. Com/Latest - on- new - price- of - petrol- for - Nigeria/
