Marketers worry over increased petrol cost at private depots

at the weekend raised the alarm as private depots increased the cost of Premium Motor Spirit petrol to N770 per litre.According to him, the depots are complaining that the cost of cargo freight at the high sea has increased and affected their prices.Explaining the cost components that have led to the upward adjustment of price, he added that the same has affected the pump price.Citing Lagos, he noted that the cost of transportation in Lagos is N30 or N35 per litre.

“They are complaining about the transportation for their cargoes from the high sea. That is the reason they increased the price. “Then they have to add the margin for the profit because the capital you are going to use is almost N30 million plus. The capital to buy the product. “Like 45,000 litres. If you multiply 45,000 times by N770, you will see the amount. Within Lagos, you have to pay N30 or N35. Then when you are coming to the Northern part, it is N60 to N70. In Kebbi, a litre of petrol is N900 to N1,000/litre.”

“The solution is let Dangote start its PMS. And if the Port Harcourt Refinery starts producing, the price will be lesser,” he said .

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