An oil and gas expert says the current petrol pricing does not reflect market realities, noting that this is the major cause of the current fuel scarcity.
Adetunji Oyebanji, Chief Executive Officer of 11 Plc, said this in a telephone interview with Nairametrics on Monday, stating that the ongoing fuel crisis in the country is worsened by a mix-up of politics and economics in petrol pricing.
According to him, the price for diesel and petrol are usually similar in the international market, lamenting that the Nigerian National Petroleum Company Limited (NNPCL) pegs the price at N600 per litre in Nigeria, which is not sustainable.
Accordingly, he observed that this means NNPC may be failing to meet its obligations to marketers, thus leading to supply shortages at filling stations across the country.
Moreover, Nairametrics had reported that oil marketers blamed the fresh scarcity of petrol, which is currently being experienced in some parts of the country, on supply challenges from the NNPC Limited, the major oil supplier.
National President of the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN), Billy Gillis-Harry, while featuring as a guest on a Channels Television breakfast programme, The Morning Brief, noted that the supply challenge has not been resolved. He, however, acknowledged the efforts by NNPC to solve the problem.
Nairametrics also reported that fuel scarcity continues to worsen in Lagos, Ogun State, Abuja, and some other parts of the country despite claims by the NNPC Limited that all issues have been resolved.
