There were indications, yesterday, that petrol scarcity has returned to Lagos and its environs as many oil marketers shut their outlets against motorists and other buyers. The scarcity was noticed in Abuja and environs last week, development oil marketers had attributed to bad roads and high cost of diesel for distribution. Vanguard reports that over the weekend, many independent and …

Many petroleum products depots are currently deserted due to lack of products caused by foreign exchange rate volatility, as the landing cost of Premium Motor Spirit (PMS) (popularly called petrol) has increased to N720/litre, oil marketers said on Thursday. Petroleum products dealers also stated that filling stations were shutting down daily in large numbers, as it was becoming increasingly tough …

A fire at a smuggled petrol warehouse in Seme Krake, a Beninous town on the border with Nigeria yesterday left no fewer than 33 people dead, local authorities said. Seme Krake is in Benin’s southeastern department of Oueme. Chief of the local fire brigade, Dallys Ahouangbegnon said the fire, which broke out close to the pineapple market in the town, …

The Major Oil Marketers Association of Nigeria (MOMAN) has said the price of petrol can’t go as low as N200 per litre, even if the refineries are revamped. The association noted this, following a report published recently, where the Independent Petroleum Marketers Association of Nigeria (IPMAN) said petrol price would crash below N200 per litre if the refineries became functional …

Rights activist and former presidential candidate of the African Action Congress, Omoyele Sowore has said that Premium Motor Spirit (popularly known as petrol or fuel) was not cheap before the removal of fuel subsidy by the Federal Government. In a post on his Facebook page Saturday night, Sowore said the term “subsidy removal” was being incorrectly put to push more …

Private Premium Motor Spirit (PMS) depots have crashed the prices of fuel amidst speculations of a rise to N700 per litre this month. The Independent Petroleum Marketers Association of Nigeria (IPMAN) on Saturday denied plan by the association to increase the pump price of petrol to N700 per litre this month. On the contrary, The Nation confirmed that private depots …

Two hundred and seventy filling stations have been shut down for their involvement in diverse infractions such as hoarding, and selling Premium Motor Spirit (PMS) above-approved price, according to the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA). This is as the Federal Government announced the deployment of operatives of the Department of State Services (DSS) on tankers transporting petrol …

Nigerians who have been paying – sometimes double the N165-per-litre official price – for Petroleum Motor Spirits (PMS) and sleeping at fuel stations should blame private depot owners for their nightmare. According to the Independent Petroleum Marketers Association of Nigeria (IPMAN), some of the private depot owners had not reduced their ex-depot price for PMS, popularly known as “petrol”. IPMAN’s …