On Saturday, automotive gas oil (AGO), known as diesel, was selling for up to N1,500 at petrol stations in Lagos and Abuja.
TheCable discovered that Mobil and TotalEnergies fuel stations in Festac Town were selling for N1,300 and N1,500 per liter, respectively.
In Abuja, the product cost N1,450 per liter at Eterna, Banex, and N1,500 at Emadeb, Kado.
Speaking on the problem, Abubakar Maigandi, president of the Independent Petroleum merchants Association of Nigeria (IPMAN), stated that merchants still have outdated stockpiles, which is why the product is currently priced.
Maigandi said:
“It began recently. And there was an old stock. I’m confident that the pricing will be normalised soon. “
He added that the price cut benefits oil marketers who buy one million litres directly from the Dangote refinery. He noted that certain IPMAN members must buy from third parties.
“Definitely, you know Dangote refinery is selling for N1,000. But it is only for those who are buying one million litres and above. Those who are buying one truck from those one million litres will definitely add their profit. ”
Maigandi said this is why independent marketers are trying to
“see how we can go closer to Dangote in terms of purchase so that the association will carry the volume and share it to the individual marketers who can not be able to buy one truck so that they will be able to buy it at a lower rate”.
Maigandi said the reduction of the price by Dangote refinery is a good step in the right direction.
On April 2, it was reported that Dangote Refinery fixed the minimum volume of diesel that can be purchased by oil marketers at one million litres.
Maigandi confirmed that the refinery started selling the product to marketers on March 2.