See how much filling stations are selling fuel per liter to customers

• Filling stations are now selling petrol at a new price significantly higher than the official pump price
• The changes reflect the ongoing scarcity of the product, especially in Abuja, which has now spread to various parts of the country
• Many filling stations visited by Legit.ng were closed; those open are selling above their initial price of N620

Legit.ng journalist Dave Ibemere has over a decade of business journalism experience with in-depth knowledge of the Nigerian economy, stocks, and general market trends.

Filling stations have increased their pump price for Premium Motor Spirit (PMS), popularly known as petrol, amid ongoing scarcity that started in Abuja and has spread to various parts of the country.

Filling station sell price above the expected pump price. Photo credit: George Osodi
Source: Getty Images

Daily Trust reports that fuel prices have surged, ranging between N800 and N900 per litre in some states, significantly higher than the official pump price.

Black marketers have also taken advantage of the situation, selling a litre of petrol for N1,000 to N1,500.

Although the scarcity is majorly in the north, Legit.ng observed that several filling stations in Lagos were closed on Monday, July 8.

A filling station manager at Ikotun, Gbenga Salau, told Legit.ng that they are closed due to a lack of supply.

He explained.

"It is not just us. Many filling stations are closed. We have no supply. Hopefully, by the end of today, we will get our supply, but definitely, we will not be selling at N620 per litre."

Another filling station visited on the same road, amid long queues, has adjusted its pump price to N720 per litre.

Marketers speak on the situation

Reacting to the development, Major Energy Marketers Association of Nigeria (MEMAN) has said that heavy rainfall across the country, particularly in Lagos, hampered ship-to-ship loading.

Clement Isong, the Executive Secretary of the body who gave this explanation noted that berthing at jetties, truck load-outs and transportation of products to filling stations, creating a disruption in station supply logistics.

Dangote refinery beats all 10 biggest refineries in Europe

Earlier, Legit.ng reported that the Dangote refinery has been ranked among the best in the world, surpassing major European refineries.

Completed in 2023, the Dangote refinery is expected to meet all of Nigeria's refining needs and also export its products.

Already, the refinery has released its first products, including diesel and aviation fuel, and the impact is already being felt.

Source: Legit.ng