A survey conducted by the News Agency of Nigeria (NAN) on Thursday in Abuja indicated that major marketers at Wuse, Gwarimpa, Maitama, Wuye, Asokoro and Karmo had adjusted their pump to the new price.
Alhaji Suleiman Yakubu, National Public Relations Officer, Independent Petroleum Marketers Association of Nigeria (IPMAN), told NAN that most filling stations had adopted the new price regime, while others would join in due course.
“We support the government and its policy, as we also know the government has its citizens’ welfare at heart. The oil and gas business has been unstable since the pandemic started,” Yakubu said.
A manager at a filling station, who pleaded anonymity, described the new price regime as a welcome development.
He said the station recorded some losses when the price of petrol was reduced by government, due to the fall in the price of crude at the international market and the outbreak of the coronavirus.
According to him, the increase in the price of petrol will help the growth of the nation’s economy.
A taxi driver, Mr Idris Bako, said that the new pricing of petrol was not good for their business, adding that commuters would have to pay more.
“During this COVID-19, we carry one passenger at the front and two behind to maintain social distance but now, the fares will have to increase,” Bako said.
NAN reports that since April, the Petroleum Products Pricing Regulatory Agency (PPPRA) had continued to issue monthly pricing directive on premium motor spirit (PMS) to the marketers.
In June, there was a slight reduction as the price was fixed at N121.50 per litre, from N123.50 in May.
The July new price is N20.30 higher than the June price of N121.50 per litre.
