In Borno, Oyo, and Delta States, petrol was purchased yesterday for N650 per litre as opposed to the official price of N617. Should the naira continue to weaken at the parallel market, marketers had previously predicted that the commodity will sell for between N680/litre and N720/litre in the ensuing weeks.
According to reports, the landing price of petrol increased month over month by 37.4 percent, from N460 per liter in June 2023 to N632.17 per litre in July 2023.
Yesterday, the product in Maiduguri, the capital of Borno State, sold for between N625 and N655 at certain private stations and for N635 at the NNPC Mega station.
As reported by drivers, many filling stations in Ibadan, Oyo State, increased the price of gasoline from N580 to N690. According to our reporter, stations like Ola Shehu, Laryma-C, and others offered the item for N600 to N690.
With long queues, Petrocam and NNPC stations in Ibadan were seen sell for N580. Our correspondent also some stations selling petrol for N650 in Delta State.
In Lagos, there long queues at NNPCL and some private stations dispensing the petrol as many others were said to have hoarded the product due to speculations of a possible price hike.
Queues were observed at the Mobil filling station along Lateef Jakande, Alausa and the NNPC station on Kudirat Abiola road.
“It seems as if they want to increase the price again. It used to be N560 at this station but the price has been adjusted to N568. The other station opposite them and the Conoil oil after the Ifako Ijaiye council secretariat are not selling,” noted Abayomi Paul, a motorist at the First Royal filling station on College road. Another motorist, Abideen Agboola, said: “The rumoured N750/litre will kill many small businesses.”
An attendant at one of the stations in Ikeja, who spoke on condition of anonymity, said they were instructed not to dispense petrol until the review is authorised.
“Our supervisor has told us that a new price would soon be announced so we have been told not to dispense for now,” he said.
