Abuja, Nigeria – Just when you think your pocket don’t suffer enough, guess wetin? The Nigerian National Petroleum Company Limited (NNPCL) don decide to slash the price of Premium Motor Spirit ( petrol) from N955 to N900 per litre. Na so we dey chop this pepper soup of price wahala, o!
Everything happen just 48 hours after NNPC raise the pump price to N955. Wetin them call this one? Market volatility! As if na wetin we sabi pass. Some outlets for Abuja don already adjust their prices, including the ones for Kubwa expressway. E be like say money don finally enter dem pocket no be small.
One attendant wey work for one NNPC outlet for Kubwa gree talk say, “We sold fuel for N955 per litre on Tuesday, but e don change now to N900.” That na real quick change-o! Meanwhile, some independent marketers like Ranoil and Empire Energy dey sell petrol for N955 and N950. Small drop wey show say dem still dey consider our feelings, but no be all stations follow the trend.
Some places still dey sell the old price, like MRS filling station wey dey offer N885 per litre. E be like say dem wan fi hold the price ground, but how far with that strategy?
Market operators don dey explain say this latest price increase na because ex-depot prices don rise sharply at the Dangote Refinery and other private depots. Na wetin dey happen for this deregulated market, as price wahala dey grip everybody like bad belle.
People wey sabi this market dey raise eyebrows about how things dey priced. Dem dey call on regulatory agencies make dem watch the market closely. But on top this price drop, loading costs for private depots don reduce small. According to petroleumprice.ng, some depots like Zone 4 and Mainland don also cut their ex-depot prices down by N2 per litre, bringing their rates to N860 and N862. Na small drop, but every kobo count for the Nigerian terrain, abi no be so?
Big players like MENJ, Aiteo, Sahara, MRS Tincan, A.A. Rano, and Pinnacle dey hold their prices steady around N860 to N861. E be like say them dey form steady ship while others dey waka up and down. Wetin we go call this one? Price drama!
As for how the market go settle down, na only time go tell. For now, we go just dey manage our coins, dey cross our fingers, and hope say dem no go bring another change wey go chip away our hard-earned money again. Omo, na wetin we face today!
Do you have a news tip for NNN? Please email us at editor@nnn.ng
