17 Oct 2016

RECESSION: Oil Marketers Increase Price of Kerosene By 52%..See new price

Oil marketers across the country have refused to abide by the N150 per litre price for household kerosene as approved by the Nigerian National Petroleum Corporation.
The NNPC had on several occasions stated that marketers should dispense kerosene at N150 per litre to their various customers but they have continued to dispense the product at an average price of N288.68 per litre.

This revelation was made known by the National Household Kerosene Price Watch for September 2016 prepared by the National Bureau of Statistics.

The latest report by the Statistics office showed that the new price represent 52% increment when compared with the NNPC official price.

The Group Managing Director, NNPC, Dr. Maikanti Baru, had earlier called on petroleum marketers not to sell the commodity above the approved price, adding that issues surrounding the scarcity of kerosene had been addressed.

He also stated that all NNPC retail and mega stations had been supplied with kerosene and were selling at N150 per litre.

But the latest report by the NBS, released on Friday, showed that the average price of kerosene across the country was N288.68 per litre, indicating a difference of N138.68 when compared to the N150 per litre price that was approved by the NNPC.

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