Fuel Prices Soar As Independent Marketers Defy Improved Supply

• Independent Marketers Hike Petrol Prices

• Wide Price Gap Between Major and Independent Sellers

• Supply Breakdown at NNPC Blamed for Price Surge

Eko Hot Blog reports that despite an improvement in fuel supply, independent marketers have shockingly increased petrol prices nationwide.

In contrast, major marketers have maintained relatively stable prices, creating a significant price disparity.

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Major marketers sell petrol at an average of ₦605 per litre, while independent operators have hiked their prices to ₦730 per litre.

Independent marketers attribute the price surge to a system breakdown at the Nigerian National Petroleum Company Limited (NNPCL).

“As of this morning, I bought petrol at N850 per litre at one of the stations along the Iju-Ishaga area of Lagos,” lamented motorist Olatunde.

Furthermore, independent marketers claim they no longer have direct access to imported petroleum products at depots at stipulated prices.

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This has led to robust business-to-business transactions favoring major marketers, according to independent operators.

Although petrol stations across Lagos now have the product, they are yet to reduce prices to reflect the improved supply.

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