A market survey that The Nation embarked upon on Tuesday confirmed that The Nigerian National Petroleum Corporation (NNPC) mega station on the Olusegun Obasanjo Way, Abuja sold the Automative Gas Oil (AGO) also known as diesel for N160 per litre.
The Independent Petroleum Marketers Association of Nigeria (IPMAN) confirmed that its members have reduced the price of diesel to N170 per litre.
Speaking with Nation on phone, its National Vice President, Alhaji Abubakar Maingadi, said that the price reduced from last week N180 and N190.
He, however, attributed the decline to the deregulation of the price by the Nigerian National Petroleum Corporation (NNPC).
He said that the “price is coming down because of deregulation,” urging the federal government to deregulate the entire petroleum sector.
The National Vice President noted that the price of Premium Motor Spirit (PMS) will also crash if the NNPC deregulate its price.
The Corporation’s General Manager, Group Public Affairs Division, Mr. Ndu Ughamadu had on Sunday said that the price dropped by 42% owing to the NNPC strategic intervention efforts.
He recalled that the product’s retail prices as at the end of May 2017 ranged from N175 to N200 across the country (a significant price drop of about 42%), while ex-depot prices also dropped to between N135 and N155.
While our correspondent was at Total stations yesterday they sold for N195 per litre in virtually all their sales outlets. A sales representative at Opposite Febson Mall, Wuse, said that the product previously sold for N220 per litre.
Azman Petrol station sold the product N180 per litre.
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