NNPC ‘crashes petrol, cooking gas prices’

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Nigerian National Petroleum Corporation (NNPC) said sustained strategic intervention in the effi cient supply and distribution of petroleum products has led to signifi cant fall in the prices petrol and cooking gas across the country.

In a statement yesterday in Abuja, spokesman of the corporation, Mr. Ndu Ughamadu, said a national survey by oil and gas forum, NNPC’s weekly TV programme, indicated that in the last fewweeks, the price of petrol had fallen from N145 per litre to between N142 and N143 per litre in some stations across the country.

He said the study showed that NNPC mega and affi liate stations across the country were selling at N143 per litre, while the pump price range from between N142 and N145 per litre in 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,” the statement read.

“Another independent marketer in Mosimi, Emeka Ikechukwu, said the going exdepot 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 diff erent 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.

“Th e 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.

“Th e study further revealed that states with the lowest average price for the 5kg LPG refi ll were Kaduna and Niger at N2, 000; Kogi at N2,005.00; and Oyo at N2,033.33.” Ughamadu also said prices of cooking gas have also reduced.

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