Petroleum Product Retail Outlets Owners Association of Nigeria (PETROAN) has said the hike in Premium Motor Spirit, otherwise known as petrol, and the queues being witnessed in Port Harcourt was because its members were restocking clean petrol at above ex depot price.
Zonal Chairman of PETROAN, Prince Sunny-Mkpe, disclosed yesterday that the landing cost of petrol at filling stations is N170 per litre.
Investigations by The Guardian showed that the few filling stations that opened for operations were selling petrol between N180 and N200 per liter.
Sunny-Mkpe explained that after buying the products at higher price, its members end up retailing at above normal pump price so as to prevent scarcity.
He said: “People cannot restock petrol again because all the cargoes are contaminated, the available ones are very costly and the ones we have sold that damaged the vehicles of customers, we are helping to fix cars, government has promised to do something, we are waiting, our members have been slow to restock. As I speak, the landing cost at filling stations is N170 per litre, so this will definitely be a problem to sell at the normal control price.”
