Petrol hits N150 per litre in Lagos

FUEL scarcity continues to bite harder asPremium Motor Spirit (PMS), otherwise known as petrol, now sells for an average of N150 per litre across Lagos metropolis.Investigations by the Nigerian Tribune, on Thursday, revealed that most petrol stations sold product at prices ranging from N120 to N150 per litre.A visit to Adonai Petroleum outlet in Ogba showed that petrol was selling at N150 per litre while Oando petrol station at Akowonjo was selling at N130 per litre.NNPC mega station sold the product at N97 per litre, while Total station, also in Ikoyi, was selling at N97 per litre.Black market operators had a field day in the rain, in front of the NNPC station in Ikoyi.Men with 50 litre gallons bought at N97 from the NNPC station sold it immediately at N120 per litre for motorists who could not join the long queue. Meanwhile, as part of its efforts to boost fuel supply, the Nigerian National Petroleum Corporation (NNPC) announced it has injected four million litres of petrol to the economy, through Kaduna Refining and Petrochemical Company (KRPC).The Group Executive Director, Corporate Services, Dr Peter Nmadu, in a statement made available to the Nigerian Tribune on Thursday, said with the ongoing efforts, 'we are optimistic that the queues will fizzle out.'In another development, the Department of Petroleum Resources (DPR) has said it would begin sealing off any depot selling petroleum products above depot price to marketers.
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