Petrol stations at the Federal Capital Territory, Abuja reportedly now sells petrol at #625 to #630 per litre.

It was reported that many filling stations are shutting down because of fuel scarcity across the country.

The report further stated that due to lack of foreign exchange, marketers are struggling to import petroleum products, compounded by the inability to access products from the Nigerian National Petroleum Company Limited (NNPCL), leading to the current scarcity.

Furthermore, most filling stations within the Federal Capital Territory (FCT) are either not dispensing products or selling them in the #625-#630 per litre range.

The Spokesperson of the Independent Petroleum Marketers Association of Nigeria (IPMAN), Chief Chinedu Ukadike commented on the situation, saying that the government’s decision will be to maintain the current PMS Price, considering the various crises afflicting the sector.

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He cautioned that if the current rate persists, petrol prices should be between #900 and #1,000 per litre, which may create an awful situation for Nigerians.

“Abuja marketers are selling at #630 per litre because they are buying from Lagos, and the transportation cost from Lagos is now approximately #2.3 million, depending on the truck’s capacity, compared to the previous #400,000,” he said.