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A recent investigation conducted by Legit revealed a stark contrast in petrol prices between petrol stations owned by major marketers and independent operators in Abuja and Lagos.
The findings point to a significant margin between the two, with major marketers maintaining relatively stable prices, while independent operators have implemented price hikes ranging from 20 to 30%.
Independent marketers attribute the price increase to a breakdown in the supply chain of the Nigerian National Petroleum Company Limited (NNPCL). They suggest that robust Business-to-Business transactions favoring major marketers have limited their direct access to imported petroleum products at the regulated price from the depots.
Despite the availability of the product across petrol stations in Lagos, prices have yet to reflect any reductions. Motorists, such as Olatunde from the Iju-Ishaga area of Lagos, lament the high costs, citing a recent purchase at N850 per litre compared to the previous price of N630 per litre.
The disparity in petrol prices raises concerns about the accessibility and affordability of fuel for consumers, especially amidst ongoing economic challenges.
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