NNPC crashes petrol, cooking gas prices nationwide

SUSTAINED strategic
intervention of the Nigerian
National Petroleum
Corporation (NNPC) in
the efficient supply and
distribution petroleum
products has led to
significant fall in the prices
of Premium Motor Spirit
(PMS), also known as petrol,
and Liquefied Petroleum Gas
(LPG), also known as cooking
gas, nationwide.
A national survey by Oil and
Gas Forum, NNPC’s weekly
TV programme, indicated
that in the last few weeks,
the price of petrol has fallen
steadily from N145 per litre
to between N142 and N143
per litre in some stations
across the country.
The study showed that
NNPC Mega and affiliate
stations across the country are
selling the product for N143
per litre, while the pump
price range from between
N142 and N145 per litre in
some major and independent
marketers in Lagos, Abuja,
Sokoto, Enugu, Delta and
other major cities.
One of the respondents in
the survey and a manager
at an independent fuel retail
station in Abuja, Mohammed
Abdullahi, said the station
currently sells petrol at N142
per litre in line with the
prevailing market situation in
order to sustain the turnover
of the business and to attract
more motorists to the station.
Another independent
marketer in Mosimi, Emeka
Ikechukwu, said the going
ex-depot prices of PMS had
dropped from N138 per litre
in most depots to N133.28 in
NNPC depots and between
N130 and N131 per litre in
private depots.
However, the situation is
slightly different in Aba and
Umuahia in Abia State and
Calabar in Cross River State
where most independent
fuel stations as well as major
marketers selling the product
at N145 per litre.
The survey also showed
a similar trend of drop in
price for cooking gas with the
average price for refilling 5kg
cylinder at N2,215.96 from
the former price of N2,500.00.
The study further revealed
that states with the lowest
average price for the 5kg LPG
refill were Kaduna and Niger
at N2,000; Kogi at N2,005.00;
and Oyo at N2,033.33.
At the NNPC Mega and
retail stations nationwide,
a 12.5kg of cooking gas that
was sold for N4,500 a few
months ago is now sold for
N3,800 while other retail
outlets sell the same quantity
for N4,000.
NNPC has sustained
its interventions through
sustained improvement in the
supply of the products and
remodeling of distribution
channels to address
sufficiency issues across the
country.
The corporation has also
stepped up the resuscitation
of some of its critical pipelines
and depots such as the Atlas
Cove – Mosimi Depot Pipeline,
Port-Harcourt Refinery – Aba
Depot Pipeline, Kaduna –
Kano Pipeline and the Kano
Depot which have enhanced
efficiency in products
distribution.
Efforts are also ongoing by
the NNPC to revamp and
re-commission other critical
pipelines and depots across
the country to further push
down the prices of petroleum
products for the benefit of
consumers.