Fuel Scarcity Worsens, Black Market Sells at N300/litre

Fuel scarcity worsened in Lagos, the Federal Capital Territory and other parts of the country on Tuesday, resulting in motorists spending hours at filling stations.

For oil marketers, the solution to the worsening fuel queues across the country is for the Federal Government to approve an increase in the pump price of the commodity.

Although some marketers had already raised the price of fuel in their outlets, they admitted that the move had not been approved by the government, noting that dealers could be sanctioned for selling above the regulated rate.

The approved pump price of Premium Motor Spirit, popularly called petrol, is N165/litre, but marketers are currently kicking against this rate, saying that it is no longer sustainable going by the global crisis in the energy sector.

A retail outlet located in the Kubwa Village Market, Abuja, dispensed petrol at N195/litre to motorists and still had queues.

Heavy fuel queues were seen in the few filling stations that sold petrol at the approved rate on Tuesday. Some of them included: the NNPC close to Gwarimpa on the Zuba-Kubwa expressway, Total filling station opposite the headquarters of NNPC, Nipco filling station on Zuba expressway, among others.

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