The Nation Newspaper

Tag: petrol

  • 33 killed in petrol warehouse fire at Seme border

    33 killed in petrol warehouse fire at Seme border

    A fire at a smuggled petrol warehouse in Seme Krake, a Beninous town on the border with Nigeria yesterday left no fewer than 33 people dead, local authorities said.

    Seme Krake is in Benin’s southeastern department of Oueme.

    Dallys Ahouangbegnon, chief of the local fire brigade, said the fire, which broke out close to the pineapple market in the town, spread to houses and vehicles parked near the site.

    Three injured individuals were evacuated for medical treatment.

    Some of those who managed to escape to Banouto from the scene described the effect of the fire as catastrophic and the loss of lives and property as staggering.

    Read Also: No casualty at Lagos collapsed 3-storey building — NEMA

    Firefighters who rushed to the scene had a hectic time quelling the fire, they said.

    Smuggled petrol from Nigeria continues to thrive despite the recent removal of fuel subsidy by the federal government; an action that drove up fuel price.

    Thousands of litres of petrol sold on the streets of Benin’s towns and neighborhoods generally come from stations located along the Benin-Nigeria border.

    The trade, which generates huge profits, also entails major risks, given the precarious conditions in which the product is stored. As a result, fires occur frequently with heavy tolls.

  • Pump price of petrol: What Tinubu should do

    Pump price of petrol: What Tinubu should do

    • By Zayyad I. Muhammad

    Sir: The importation of petroleum products was initially a temporary measure to tackle the inadequate supply of petroleum products from Nigeria’s four state-owned refineries. However, inefficiency and corruption have turned this temporary measure into a permanent thing; thus, the ‘monster’ subsidy found its way into the system.

    The prices of refined petroleum products in Nigeria are solely dependent on import factors. To mitigate the high prices of petroleum products due to subsidy removal, there are two ways: a temporary one and a permanent one.

    The temporary way concerns looking at the over 10 components that make up the landing cost of petrol in Nigeria: Recent analysis showed that for every litre of petrol, freight is around N10.37K; port charges N7.37; NMDPRA 1%, levy: N4.47K, storage cost: N2.58K, marine insurance: N 0.47K, Fendering cost: N0.36K, NMDPRA: COQ & NOA, Q&Q analysis: N 0.06K, Letter of Credit fees: N 10.78K, while total interest stood at N 17.26K.

    Excluding the cost of high exchange rate, loading depot expenses, and haulage expenses, these components make up nearly 10% of the price of imported petrol. 

    Some of these components are under government control, while others are not. For example, the government can control the exchange rate, port charges, NMDPRA’s 1% levy, COQ and NOA, and Q&Q analysis.

    President Tinubu should set up a presidential team to look at these components and devise feasible ways to knock them off the landing cost template. For those under the government’s control, the government should eliminate them from the template since the importation of petroleum was supposed to be a temporary thing. For the components outside the control of the government, tax cuts and other incentives can be offered to the private firms in charge of these components in exchange for cutting down their charges. The biggest culprit in the high price of imported petroleum products is the high exchange rate; some petroleum marketers find it difficult to source for dollars from the Central Bank of Nigeria I&E FX window. President Tinubu should mandate the CBN to make a special reservation of dollars for petroleum marketers willing to import petroleum. The next thing that President Tinubu should do is critically look at the restoration of the Petroleum Bridging Equalization Fund. Since it is like a contributory fund, the source of the fund is principally the net surplus revenue recovered from oil marketing companies. The bridging claims paid to the petroleum marketers automatically equalize petroleum prices throughout Nigeria. Aquila, an innovative electronic business solution, has completely eliminated any irregularities in the distribution and claims on bridged regulated petroleum products.

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    The permanent solution lies in how Nigeria’s four local refineries are managed. The refineries are caught in the crossfire of corruption and persistent attacks on pipelines by oil thieves. As their rehabilitation is ongoing, when the refineries come online, Nigeria has three options.

    The government can retain one of the refineries, grant it full autonomy to cater for itself, pay its bills, and remit dividends to the government. The government can also lease one of the refineries to any oil company or group of investors with an interest in petroleum product refining. And the government can fully privatize one of the refineries, with the federal government, host communities, and the 36 states having some shares. This approach will take care of all the interests in how to manage the four refineries.

    However, we cannot talk about Nigeria’s refineries without mentioning the effective management of the country’s 5,120-kilometre oil pipeline network. The engagement of locals by the NNPC is yielding some results. The biggest problems facing the oil pipelines are incessant illegal tapping by oil thieves, sabotage, right-of-way incursions, slow detection of leaks, and in-line equipment failure due to inaccessible sites, including the old-fashioned method of managing the pipelines. There are advanced technologies that can provide advanced warning in real-time, which helps pipeline companies take quick action to protect the long stretch of their pipeline network, even if it is located in inaccessible areas where visual inspection might be difficult.

    Petrol is the oxygen of any nation. The social problem emanating from the aftermath of petroleum subsidy removal is purely a local problem that requires both ‘book’ and practical solutions. Sometimes, the government purely relies on experts who understand the problem from the ‘book’ perspective, forgetting the real players in the petroleum industry who understand the problem from all its angles: importation, depot loading, haulage, retailing, and manpower management

    •Zayyad I. Muhammad,

     Abuja.

  • NMDPRA: Daily petrol consumption drops to 52m litres

    NMDPRA: Daily petrol consumption drops to 52m litres

    The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has said Nigeria’s average daily consumption of Premium Motor Spirit (PMS), otherwise known as petrol dropped to 52 million litres in July compared to  64.964 million  litres recorded at the end of June, 2023.

    The agency said land-based stock and closing stock less dead stock of petrol was 1.12 billion as of the end of July 2023. It added that marine stock which included berth and offshore availability was 521.04 million litres.

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    According to the agency, the total stock less dead stock was 1.64 billion litres, while depot dead stock was 83.64 million litres. Total stock inclusive of dead stock was 1.725 billion litres. The land-based days sufficiency was 21.55 days while marine days’ sufficiency was put at 10.02 days and total days sufficiency cumulatively stood at 31.57 days.

    For instance, on July 1st, land-based stock of PMS was 1,059,330,321 litres while marine stock at berth and offshore stood at 826,447,740 litres. It added that total stock less dead stock was 1,885,778,061 litres while depot dead stock was 83,095,042 litres. Total stock inclusive of dead stock stood 1,968,873,103 litres; land-based sufficiency was 16.31 days; marine days sufficiency was 12.72 days and total days sufficiency was 29.03 days.

    As of July 1st, from the national PMS stock levels, the Nigerian National Petroleum Company Limited (NNPCL) had 293,380,735 litres in stock; members of the Major Oil Marketers Association of Nigeria (MOMAN) had 91,202,643 litres, while Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN) had 753,825,183 litres.

    The NMDPRA data said Nigeria had land-based days sufficiency of 21.55 days as of the end of July while marine days sufficiency was 10.02 days which brings the total days sufficiency to 31.57 days. Besides, by July 31st, out of the 1, 203, 046, 091 litres national inland PMS stock, NNPCL had 377, 068, 772 litres in its stock. MOMAN, it said, had 60, 973, 065 litres while the DAPPMAN had 765, 954 litres.

  • NNPC to depots: don’t sell petrol above N133.28/litre

    The Nigerian National Petroleum Corporation (NNPC) has warned depot owners or terminal operators not to sell Premium Motor Spirit (PMS), otherwise called petrol, above the official ex-depot price of N133.28k per litre.

    The Corporation also cautioned petroleum products marketers not to sell the product above N145 per litre.

    Ex-depot price is the ceiling at which depot owners or terminal operators sell products to marketers, while the pump price of a product is the amount consumers buy it from fuel stations.

    READ ALSO: NNPC pledges commitment to gas development

    A release yesterday in Abuja by the corporation’s Group General Manager, Group Public Affairs Division, Mr. Ndu Ughamadu, said the subsisting ex-depot petrol price of N133.28k per litre was consistent with the Petroleum Products Pricing Regulatory Agency’s (PPPRA) template and should be adhered to.

    Ughamadu stated that NNPC held stock of over 1billion litres, adding that imports of 48 vessels of 50million litres each have been committed for the month of April alone.

    He advised Nigerians to remain vigilant and volunteer information to the Department of Petroleum Resources (DPR), the Industry regulator or to any law enforcement agency around them, on any station which sells petrol beyond N145 per litre.

  • NNPC cautions consumers against panic buying of petrol 

    …says FG, NLC are addressing planned strike

     

    The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr. Maikanti Baru, has appealed to motorists and other consumers of petroleum products across the country not to engage in panic buying of products over the Nigeria Labour Congress (NLC) planned industrial action.

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    Baru said the Federal Government was seriously engaging the NLC on the issues it raised, a release by NNPC Group General Manager, Group Public Affairs Division, Mr. Ndu Ughamadu, stated today (Wednesday) in Abuja.

    Ughamadu quoted the NNPC GMD as affirming that the Nation had 37- day petroleum Premium Motor Spirit (PMS), otherwise called petrol, self- sufficiency, assuring that all the NNPC’s depots across the country, including the private ones engaged by the corporation on throughput basis, have an abundance of petroleum products to meet the needs of Nigerians.

    The statement said all NNPC depot managers have been instructed to intensify products loading and other activities in their depots to avert any fallout of developments in respect of the NLC’s proposed strike.

    Baru explained that the NNPC would continue to meet the products consumption needs of all Nigerians wherever they may be within the shores of the country.

  • NNPC: petrol landing cost exceeds N171 per litre

    • Firm denies fuel subsidy existence

    The Nigerian National Petroleum Corporation (NNPC) yesterday cried out over the increase in the landing cost of petrol. The state-run oil firm lamented that the cost has exceeded N171 per liter while the pump price remained regulated at the maximum of N145 per liter.

    The last known landing cost of the product was N171 per liter which is an indication of N26 per liter under-recovery cost.

    The prices of crude oil had recently risen to about $80 per barrel, which has a direct effect on the landing cost of petroleum products.

    But in December last year when the price was $64.37 per barrel, the NNPC Group Managing Director, Dr. Maikanti Baru said the landing cost, which include product cost, insurance and freight was $620 per metric ton. He said the country’s daily consumption had risen above 50million liters per day too.

    Meanwhile, its Group General Manager, Group Public Affairs Division, Mr. Ndu Ughamadu, who spoke with The Nation on phone, rejected the description of the payment of under-recovery as subsidy.

    He said: “As you rightly pointed out in your question, once the prices of crude oil go up in the international market, it affects the prices of product in the international market.

    “And equally it affects the landing cost. The gap has really widened but the real figures I don’t have here because I am not here in the office.”

    But the spokesman later told this correspondent on phone that “it is only the PPPRA (Petroleum Product Pricing Regulatory Agency) that can give you the figure.”

    Upon visit to the website of the PPPRA, the pricing template space was blank.

    Asked to state why the space was blank, agency’s General Manager, Corporate Affairs, Mr. Agie Apollo, said management has directed the department to revive and update it on daily basis.

    The PPPRA spokesman was reticent on the under-recovery cost of petrol. He however said:  “The website is like almost as dead. In short, we need to upgrade and update it on daily basis. I just finished talking to the person who is in charge of the updating of the website.”

    But according to Ughamadu, it is only the National Assembly that can appropriate subsidy. He explained that the NNPC has only said it is not recovering the full amount for the petrol it sells to the public.

    “We have never said we are operating a regime of subsidy. Once you mention subsidy, it is only National Assembly that can appropriate for subsidy. What we have been saying is that we are operating a regime of under-recovery. In other words, we are not recovering the full amount we sell to the public.”

    From all indication, the NNPC was evading the question by referring The Nation to the PPPRA since it is the sole importer of petrol and only it knows how much it spends on importation.

  • NNPC losing N774m daily on petrol sales, says GMD

    NNPC losing N774m daily on petrol sales, says GMD

    •PENGASSAN to Fed Govt: reimburse fuel subsidy to NNPC

    The Nigerian National Petroleum Corporation (NNPC) said yesterday it was losing N774 million daily on petrol sales.

    It raised the alarm over proliferation of fuel stations in border and coastal communities across the country.

    It insisted that the development has energised cross-border smuggling of petrol to neighbouring countries, making it difficult to sanitise fuel supply and distribution.

    The corporation’s Group General Manager, Group Public Affairs Division, Mr. Ndu Ughamadu, in a statement issued in Abuja yesterday, said the NNPC Managing Director, Dr. Maikanti Baru, spoke when he led a team on a visit to Nigerian Customs Service Comptroller-General Col. Hameed Ali (retd).

    Baru presented a pictorial chart portraying Nigeria in the middle selling pump price of petrol at N145, its neighbours: Ghana at N311, Togo (N308), Benin Republic (N292.8), Niger (367), Chad (326.35) and Cameroon at N400 per litre.

    “There has been a heightened consumption growth from less than 30 million litres per day in August 2017, to an average of over 500 million litres per day with a peak of 84.2 million litres on December 8, 2017,” he said.

    The NNPC GMD said a detailed study conducted by the corporation indicated strong correlation between the presence of the frontier stations and the activities of fuel smuggling syndicates.

    He said the activities of the smugglers had led to observed abnormal surge in the evacuation of petrol from less than 35 million litres per day to more than 60 million litres per day, a development he described as in sharp contrast with established national consumption pattern.

    Providing a detailed presentation of the findings, the NNPC GMD said 16 states, having among them 61 local government areas (LGAs) with border communities, account for 2,201 registered fuel stations.

    The fuel tank, he noted, had a combined capacity of 144,998,700 litres of petrol.

    Baru said eight states with coastal border communities spreading across 24 LGAs among the states account for 866 registered fuel outlets with combined petrol tank capacity of 73,443, 086 litres.

    A further breakdown of the finding, he added, shows that among the states with land border, three LGAs in Ogun State account for 633 fuel stations with combined petrol tankage of 40,485,000) litres. Nine LGAs in Borno State, he said, have 337 fuel outlets with combined petrol storage capacity of 21,114,480 litres. Lagos with one council as border community has 235 registered fuel stations with total petrol storage facility of 19,916,600 litres, Baru said.

    On the coastal front, the NNPC boss claimed that Lagos with six LGAs leads with 487 registered fuel stations with combined in-built storage capacity of 50, 239,560 litres.

    Baru added that Akwa Ibom with five LGAs has 134 registered retail outlets with capacity to store 8,322,986 litres and Ondo State with two LGAs has 110 fuel stations with capacity to store 3,871,320 litres.

    Welcoming the NNPC GMD and his team to the Customs Headquarters, Col. Ali said the service would work with the corporation to stem the tide of cross-border smuggling of petroleum products, noting that all hands must be on deck to ensure the country’s economic survival.

    The Customs boss thanked NNPC GMD for the elaborate data he provided on the fuel supply situation, noting that this would enable the service fashion out the appropriate architecture to combat the menace.

    He called on the authorities to tackle the issue of price differentials, which is the underlying motivation for smuggling activities.

    But the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) has called on the Federal Government to reimburse the NNPC for expenses the corporation incurred from payment of subsidy to the marketers.

    According to PENGASSAN National Public Relations Officer, Comrade Fortune Obi, at the end of its National Executive Council (NEC) meeting in Warri, Delta State, the association said NNPC has continued to shoulder the responsibility of providing products to close gaps created by the withdrawal of other marketers owing to non-payment of subsidy claims from 2015 to 2017.

    A communique signed by the PENGASSAN President, Comrade Francis Olabode Johnson and the General Secretary, Comrade Lumumba Okugbawa, stated that the extra burden absorbed by NNPC was depleting the corporation’s finances.

  • Petrol marketers seek N240/$1

    Petrol marketers seek N240/$1

    Petrol marketers are insisting on the exchange rates of not more than N240 per dollar to import and recoup  their investment, the Independent Petroleum Marketers Association of Nigeria (IPMAN) National Operation Controller, Mr. Mike Osatuyi, has said.

    He said the body has met the Federal Government on the issue, noting  that foreign exchange (forex), especially dollar, was rising due to its growing influence in the international trade.

    He added that investors from developing countries needed an appreciable increase in the value of their currencies to play well in the highly-competitive global market.

    In an interview with The Nation, Osatuyi said: “The landing cost of fuel is N181 per litre, while the official pump price of fuel is N145 per litre. So, if we (marketers) import fuel at N181 per litre, and change a dollar at N340, there is no way marketers would cope with such condition. That is why we are requesting that the government sells dollar at not more N240 per dollar.”

    According to him, marketers irrespective of their affiliations or groupings are conscious of their costs and returns on investments.

    He said the group realised that there would be little or no profit left for the marketers, if the government did not sell dollar to them at N240.

    He advised the Nigerian National Petroleum Corporation (NNPC) to either double or triple the importation of refined petroleum products, adding the idea would help to improve the distribution of fuel in the country.

    He said poor distribution of fuel is one of the problems facing the country, stressing that the problem would be resolved when NNPC imports enough fuel.

    In a related development,   the  Independent Petroleum Marketers Association of Nigeria (IPMAN) has called for the full deregulation of the downstream sub-sector.

    Chairman, IPMAN Western Zone, Alhaji Debo Ahmed, made the call in Lagos.

    He spoke against the backdrop of the fuel scarcity in many parts of the country.

    He attributed the lingering fuel scarcity to inability of the Nigerian National Petroleum Corporation (NNPC) to meet the consumption demand.

    According to Ahmed, none of the depots of the Pipeline and Products Marketing Company (PPMC), an arm of NNPC, within the western zone has enough petrol to cater to the demands of the public.

    “The management of NNPC should increase petrol allocations to IPMAN marketers rather than allocating excess products to NNPC retail stations that have less than 25 outlet within Lagos.

    “IPMAN that has over 2,500 members and over 500 outlets across the Southwest was given 30 per cent against 60 per cent agreed by NNPC and marketers,’’ he said.

    Ahmed said most IPMAN members closed their filling stations due to the inability of NNPC/PPMC to distribute products to depots for marketers to load adequately.

    He said the limited products were having lopsided distribution formula.

    “IPMAN was given 30 per cent, Major Oil Marketers Association of Nigeria (MOMAN) 30 per cent and NNPC retail 40 per cent as against 60 per cent for IPMAN and 20 for MOMAN; NNPC retail 20.

    “The imported petrol by NNPC/PPMC is distributed through the Private Fund Initiative (PFI) system to private depot owners (DAPPMA) to sell to Independent Marketers at a controlled price of N133.28k.

    “But, DAPPMA members are selling between N160 and N162 above the regulated price, of which no marketer can buy at that price and sell at the regulated price of N145 per litre,’’ he said.

    The IPMAN boss urged the government to intervene and check the activities of DAPPMA as they sold above the recommended pump price. He also urged the Department of Petroleum Resources (DPR) to address defaulting depot owners who sold petrol above the approved pump price. DPR only descends on independent marketers by closing their stations.

    “You can only sell what you buy; we are business people, for how long do we close down our stations since we have financial obligations to the banks?

    “Probably, the Federal Government may have deregulated without the public being aware. During, the recent Senate committee meeting held with stakeholders in the oil industry, one of the suggestions from the Minster of State for Petroleum, Dr Ibe Kachikwu, was the introduction of dual price regime.

  • ‘Why marketers insist on selling petrol above N145/litre’

    ‘Why marketers insist on selling petrol above N145/litre’

    FACTS have emerged on why  marketers want a hike in the petrol’s price.

    The Nation learnt that the reason  marketers are reluctant to sell at N145 per litre is because of artificial scarcity; most private depots are empty.

    The few that have are warehousing the product for the Nigerian National Petroleum Corporation (NNPC), which pay a commission for the service to the depot owners.

    Under this arrangement, the NNPC authorises the truck to load at such depots. However, due to the large number of trucks waiting to load, this causes scarcity. Such depots take advantage of the high demand to hike the price.

    The regulated ex-depot price by  NNPC, the sole fuel importer, is N133.28 per litre, but the depots sell at between  N158 and N162.

    Further investigation revealed that such depot operators connive with some NNPC officials to sell over the approved ex-depot price of N133.28 to make quick cash. Trucks from the East and other parts of the country that are far from the Lagos ports – the main source of fuel supply – make higher offer to the depots because petrol sells at such places at over N145 per litre. In some states, petrol sells for N180 and N200.

    Some marketers confirm that  some NNPC officials connive with private depot owners to divert petrol meant for Pipeline and Products Marketing Company (PPMC), an arm of NNPC, to private depots, pay throughput charges, to sell above ex-depot prices.

    The Nation’s investigation revealed that most of the NNPC depots are not working, while those that are functional operate at very sub-optimal levels, putting excess pressure on NNPC and private depots in Lagos and other parts of southwest as well as contribute to gridlock in Apapa.

    The Southwest Zone of the Independent Petroleum Marketers Association Nigeria (IPMAN) Chairman, Alhaji Debo Ahmed, told The Nation that he could only speak on the state of NNPC depots in the zone. According to him, there are five NNPC depots in the southwest.

    He said: “I can only talk about southwest, which is my constituency. In southwest, we have five depots – Ilorin, Ibadan, Ore, Ejigbo and Sagamu and their petrol storage capacities, I will tell you.

    “Of these five depots, the one in Ibadan is working, after almost three years of being out of operation. It started working last October. In Ejigbo, only two smaller tanks are working. They have a million litres capacity each, which can only load 33 or 66 trucks. The two that are not working have five million capacity each, which is 5000metric tons. At Mosimi (Sagamu), the tanks are working. It is the largest depot in the southwest and pumps products to all parts of the region and others. It loads Port Harcourt, Kano and other states.

    Ore has not been working for five years because of pipeline vandalism. Ilorin also has not been working for four years due also to pipeline vandalism. Ore depot is not big with its 10-million litre capacity. Ilorin has about 10 million litres. Of the five depots, three are working.

    The Group General Manager, Group Public Affairs Division, NNPC, Mr. Ndu Ughamadu, told The Nation that the corporation has 21-23 depots on land and two marine. He said the latter were working while some of the land depots were not – no thanks to pipeline vandalism.

    Ughamadu said Calabar, Warri, Port Harcourt, Benin, Mosimi, Ibadan, Ejigbo and Kano depots were  working, adding that Enugu, Aba and other depots would soon be in operation.

    According to him, the NNPC management is working relentlessly to bring the entire depots on stream to make fuel available across the nation.

    On the over-pricing of ex-depot price of petrol, Ughamadu said the NNPC has put measures in place to effectively enforce the N133.28 ex-depot price.

    Quoting the PPMC Managing Director, Umar Ajiya, Ughamadu said the measure became necessary to resolve the price differentials between some of its stakeholders.

    Ajiya said the throughput facilities, along with some of its coastal depots, woukd go a long way in ensuring that marketers access petrol at the approved government price.

  • Marketers to NNPC: Increase petrol supply

    Marketers to NNPC: Increase petrol supply

    Owing to the persistent scarcity of the Premium Motor Spirit (PMS) also known as petrol, nationwide, the Executive Secretary, Depot and Petroleum Products Marketers Association (DAPPMA), Mr. Olufemi Adewole, on Monday urged the Nigerian National Petroleum Corporation (NNPC) to increase its supply to the marketers.

    He admitted that the corporation was giving fuel to marketers, stressing that if there were queues anywhere it meant that the supply was insufficient and that NNPC should increase it.

    Asked to give an update on the petrol market in view of the unending queues in the country, he told The Nation on phone that “I really don’t have an update about happenings in the last few days now. 

    “But I read in the news too. I came into Abuja this morning and I have seen one or two places that have fuel. To the best of my knowledge NNPC is giving marketers fuel. If there are queues it simply means they should give marketers more.”

    Speaking on phone, the National Vice President, Independent Petroleum Marketers Association of Nigeria (IPMAN), Alhaji Abubakar Maigadi attributed the queues to panic buying.

     He recalled that the scarcity started since last month and it was not easy for it to disappear from the whole country immediately.

    According to him, “there has been improvement in terms of loading and supply of  product. In Niger State there are queues but they are not long.”

    The NNPC Group General Manager, Group Public Affairs Division, Mr. Ndu Ughamadu, who was also called for a reaction to the persisting scarcity did not receive his call at press time.

    The fuel scarcity and its resultant queues that engulfed the Federal Capital Territory (FCT) seemed to have aggravated yesterday.

    Most of the independent marketer apart from the Nipco petrol stations in Kubwa, Lugbe Airport road were under lock and key. Some major marketers as Total in Zone 6, Wuse District however sold the product. 

    The NNPC affiliate stations that sold petrol yesterday were besieged by endless queues. The worst hit was the on mega station on Kubwa expressway and the one on Olusegun Obasanjo way, which both recorded long queues.

    At the Nipco on Airport road, it was discovered that the station pegged its maximum sale per vehicle at N3,000 per liter. 

    Although the stations did not alter the prices from a maximum of N145 per, black marketers took advantage of the scarcity to sell petrol in jerrycans on the expressways. They sold theirs for about N200 per litre.