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Kerosene price rises by 150 per cent

By on April 15, 2013

The price of kerosene has risen by over 150 per cent following the acute shortage of the product in many parts of the country, especially Lagos and its environs.

Investigations at the weekend showed that many marketers, including those who made arrangement with the Nigerian National Petroleum Corporation (NNPC) to sell the product at only N50 per a litre did not have it.

Consequently, depot price of the product has increased from N40.90 to N102 per a litre, showing an increase of over 100 per cent in most depots visited.

An Apapa-based operator, who preferred not to be named, said: “There is no way we can sell kerosene at N50 per liter because we do not get it cheap. In fact, there are presently no depots that can sell at that price.”

The NNPC stations expected to sell at N50 per liter because the Corporation remains the sole importer of the product do not have stocks.

Some independent marketers, who got the product at N102 per litre, sold it between N120 and N150 per litre, depending on some factors, especially location.

A marketed survey in the Federal Capital Territory (FCT) showed that many filling stations did not have the product.

The Acting Group General Manager, Group Public Affairs Division of NNPC, Ms Timinu Green, did not pick her telephone calls or respond to text messages sent to her over the issue.

But the Petroleum Products Marketing Company (PPMC) spokesman, Mr. Nasir Imodagbe, said in a telephone interview that: “I think there should be enough supplies because the refineries are doing well. I will find out the situation and let you know when work resumes on Monday.”

The Acting Secretary General of Nigeria Union of Petroleum and Natural Gas Workers (NUPENG), Mr. Isaac Aberare, whose members are involved in the movement of petroleum products from one part of the nation to another said it is not clear why the product was not available at affordable prices.

Aberare said: “We are aware of the market situation, but cannot provide any explanation. It is the duty of NNPC and PPMC to explain to the consumers.

“There is no reason why consumers should be made to pay so much because we are not aware of any official change in the price of kerosene.”

 

( National Mirror)