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Retailers accuse depot owners of profiteering from fuel scarcity

Retailers accuse depot owners of profiteering from fuel scarcity

Fuel retailers have accused private depots of seeking to make excessive gain from the current fuel scarcity being experienced across the country. National President, Petroleum Products Retail Outlets Association of Nigeria, PETROAN, Mr. Billy Gillis-Harry in a statement said private depot owners have jerked up the ex-depot price of petrol as a result of scarcity.

According to him, contrary to assurances by the Nigerian National Petroleum Corporation, NNPC that it had not increased price of petrol, depot owners have gone ahead to raise price of the product. The ex-depot price of petrol has now been increased from N148.69 per litre to N163 due to the inability of retailers to buy at the official ex-depot price of N148.69 from the NNPC.

He accused depot owners of also contributing to create the current fuel scarcity. ‘‘This development remains a source of concern to my members because we cannot access the products from NNPC. So, if that is the case, where do the private depot owners get their products from since NNPC is the sole importer of petrol,’’?. He said the development has forced most retailers out of operation since they cannot get supply adding that it would be illegal for retail outlets to increase petrol price above the price band approved by NNPC.

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Source: SweetCrudeReports

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