Fuel Pump Price Still Pass N₦1,300 Even As Depot Price Don Come Down!

Reported by Musa Antiketu,| Journalist at Obaland magazine.

Fuel price for Nigeria still dey high for filling stations, even though the price wey some major fuel depots dey sell petrol don reduce. Dis situation don make many Nigerians dey wonda why cheaper depot price neva really reach the pepo wey dey buy fuel for pump.

According to market report wey come out on Tuesday, September 8, petrol price for some major Lagos depots dey between N₦1,266 and N₦1,280 for one litre.

For example, Dangote refinery and Pinnacle dey sell around N₦1,266 per litre, while MRS dey around N₦1,267. Some other depots, including Aiteo, Integrated and Sahara, dey around N₦1,270, while Ascon and NIPCO dey around N₦1,280.

But despite dis reduction for depot side, plenty filling stations still dey sell petrol above N₦1,300 per litre. Some places for Lagos and Abuja dey report pump price around N₦1,310 to N₦1,325 per litre.

Dis difference between wetin depot dey collect and wetin motorists dey pay for filling station don raise fresh question about how fuel price dey move from depot reach final buyer.

For Warri, depot price dey move around N₦1,275 to N₦1,290 per litre, while some other areas dey record prices close to N₦1,300. For Calabar, some depots dey sell around N₦1,280, while others dey reach N₦1,300.

Some depot operators don also reduce their prices. For Lagos, Integrated and Sahara reportedly reduce their price by N₦9 per litre, while Lister reduce its own by N₦3. For Warri, some operators reduce their price by about N₦10, while Rain Oil reduce its own by N₦20.

But fuel no dey move from depot enter filling station without other costs. Transport money, storage, loading, handling and the cost of running filling stations fit add to the final amount wey motorists go pay.

Industry pepo don explain say no be every filling station dey buy fuel for the same price, and transport distance fit also make one area sell fuel higher than another area. Dis mean say even when depot price come down, the reduction no necessarily mean say pump price go immediately follow am.

Earlier reports from Vanguard also show say petrol pump prices don dey move sharply across Nigeria, with some filling stations increasing their prices above N₦1,300 as depot and supply costs change.

Legit.ng also report say petrol depot prices for Nigeria don experience different movements across major trading centres, while some depots dey reduce their rates and odas dey keep their prices high.

For ordinary Nigerians, the main mata be whether any further reduction wey happen for depot level go eventually reach filling stations. If depot prices continue to fall and other costs no rise sharply, motorists fit begin see some relief for pump.

But as e stand now, petrol price still dey remain above N₦1,300 for plenty filling stations, even as some depot prices don fall to around N₦1,266–N₦1,280 per litre.

Obaland magazine go continue to follow how petrol price dey change across Nigeria and how the movement dey affect transporters, businesses and ordinary pepo.

Di places wey report dis matter

• Vanguard
• Legit.ng
• Warri Aproko News

Petrol price still dey pass N₦1,300 for plenty filling stations across Nigeria even as some depot prices don fall to around N₦1,266–N₦1,280 per litre, as motorists dey wait make lower depot price reach pump.