Petrol Now Sells Below N145 in Some Stations — Survey

Due to the low patronage, some petrol stations now sell petrol less than the official rate of N145. Reports from the vanguard indicate that some motorists have started shunning filling stations privately owned due to tampering of the dispensing metres and would rather patronize the top petrol stations.

According to Folorunsho, Chairman, World Global Petroleum Ltd, products are purchased from private depots in Lagos and the business is not encouraging as the profit margins have dropped significantly due to competition.

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Minister of State for Petroleum Resources, DR Ibe Kachikwu has assured Nigerians in a recent Town Hall Meeting that after six months there would be a drop in pump price of petrol due to competition and that the government will improve on domestic refining capacity

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