Expect Reduction in Fuel Price at Filling Stations During Christmas Week – PETROAN
For the first time in a very long time in the anals of the history of the country, Nigerians are billed to enjoy the absence of fuel scarcity and hike in fuel price during the yuletide as the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has assured Nigerians to expect a reduction in the pump price of petrol during Christmas week.
Olufemi Orunsola
For the first time in a very long time in the anals of the history of the country, Nigerians are billed to enjoy the absence of fuel scarcity and hike in fuel price during the yuletide as the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has assured Nigerians to expect a reduction in the pump price of petrol during Christmas week.
OPEN TELEVISION NAIJA (OTN) News reports that the National President, Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) Billy Gilly-Harry made this announcement while appearing on the Monday edition of popular Channels Television’s breakfast show, Sunrise Daily.
OTN News recalls that during the previous week, the Nigerian National Petroleum Company Limited, NNPCL, and the Dangote Refinery announced reductions in the ex-depot price of petrol to N899 per litre in Lagos.
In his analysis of the fuel price situation in the country, the PETROAN president expressed optimism that as members of his association start loading from both NNPC and Dangote at the new price reduction, it will reflect in the retail market price during the week.
Notably, Billy-Harry openly commended some members of his association whom he claimed have done so well, especially in Abuja, for reducing their prices to below N1,000 before even the announcement.
According to him, “We don’t encourage our members to sell products at a loss because our focus is to serve Nigerians. And the only way we can serve Nigerians is when we have the resources to be able to do that.
“The resources can only be there if we’re making marginal profit enough to pay for the cost of money and make sure that we continue to do business. So, never mind, you’ll see the translation of this reduction of prices in the retail outlets hopefully within the week,” he stated.
Concluding, he further explained that the failure of members to sell in line with the new ex-depot price is not unconnected with the fact that some of them are still having old stocks that were bought at higher prices, which they obviously, cannot sell at a lower price.
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