The high cost of freighting the product from coastal depots has been blamed by petrol marketers for the persistent lines at petrol outlets in Abuja and other northern state capitals.
Mr. Benneth Korie, the National President of the Natural Oil and Gas Suppliers Association, or NOGASA, told reporters in Abuja that the high price of diesel was significantly affecting the cost of gasoline transportation.
On Tuesday, checks around Abuja revealed that almost all of the independent marketers’ stations were closed, while a few major marketers had long lines.
“The high cost of diesel is the reason for the persistent scarcity of gasoline, especially in Abuja,” he said. The market price of diesel is currently N850 per liter, and the Petroleum Equalization Fund’s bridging payments to transporters are insufficient.
Korie pointed out that the only way to overcome the problem is for the federal government to “a little” boost the price of gasoline at the pump in order to lower the enormous sums paid in fuel subsidies.
“The Central Bank of Nigeria, or CBN, will have enough foreign exchange to allow diesel importers to bring in more products if you raise the price of gasoline slightly.
“You expect the cost to be high because the importers are unable to obtain FOREX at the official CBN rate, so everyone is going to the parallel market to import their diesel,” he continued.
