Price of Kerosene Soars Higher At Depots

Consumers of the Dual Purpose Kerosene (DPK); otherwise known as kerosene are still facing hard times in Lagos as the price of the commodity  has continued to be on the rise at the very few tank farms which still has the commodity in Lagos.  
Shipping Position Weekly investigations last week revealed that most of the marketers in Lagos do not have kerosene despite promises of sufficient supply of the product from the Nigerian National Petroleum Corporation (NNPC). There is still a general concern about what has been responsible for the enduring high price.

Consumers of the Dual Purpose Kerosene (DPK); otherwise known as kerosene are still facing hard times in Lagos as the price of the commodity  has continued to be on the rise at the very few tank farms which still has the commodity in Lagos.  
Shipping Position Weekly investigations last week revealed that most of the marketers in Lagos do not have kerosene despite promises of sufficient supply of the product from the Nigerian National Petroleum Corporation (NNPC). There is still a general concern about what has been responsible for the enduring high price.
Some of the consumers of the household product who spoke to our correspondent have however urged the Federal Government to take urgent steps to address the problem and cushion the negative impact such high price is having have on them as well as make the commodity affordable.
Officials of some of the filling stations in Lagos told our correspondent that they have ran out of stock, even as some of them said that they have not sold the product for the past two months for lack of supply. They attributed the cause of high price of the commodity to lack of supply from NNPC. This, according to them has been responsible for the scarcity of kerosene, which ultimately pushed the price upwards.
A marketer, Mr. Olanife Adeoye confided in Shipping Position Weekly last week that “for now it is only the SPOG thank farm that currently has kerosene in the whole of Ibafon and this has even made the price to go higher, currently it is sold for N114 per litre” he said.
He attributed the scarcity to inadequate supply from the countries where the product is being refined, which is partly due to high cost of crude oil in the international market and the crisis that is rocking Libya which is one of the major producers of oil.
“Most of these countries have not been able to meet up with their OPEC demand due to the crisis, also the climate change is another factor that has been affecting the output”, he disclosed.
He also blamed multiple taxation and other miscellaneous expenses incurred during distribution for the rising cost of the product, noting that the landing cost is on the high side and that affects what the end-user pays.