shippingposition
  • Home
  • News
  • Editorial
    • Vox Pop
  • Maritime safety
  • Oil and Gas
  • Personality
  • Health
No Result
View All Result
shippingposition

Home » Pump Price Of Diesel Rises As FG Flags Off Deregulation

Pump Price Of Diesel Rises As FG Flags Off Deregulation

by Joshua
August 9, 2009
in Uncategorized

It took only a letter from the Petroleum Products and Marketing Company (PPMC) last week for the pump price of diesel to jump to more than N100 at most filling stations in Lagos. 
Government had recently deregulated the pricing of both Automotive Gas Oil (AGO), also known as diesel, as well as Low Pour Fuel Oil (LPFO), but the full effect became manifest last week when the depot price of diesel jumped up to N93 per litre.
Officials of NNPC confirmed that government no longer has a hand ion fixing the pump price of both AGO and LPFO and that market forces will determine the prevailing price.
But our correspondent confirmed from industry sources over the weekend that most depots do not have sufficient quantity of the products and that this is also affecting most filling stations which now sell for more than N100.
Most depot owners accuse PPMC of attempting to blackmail them, saying that even the government agency did not have he product in their depots and that the little that is being circulated were form the independent depot owners.
Those who spoke to our correspondent in Lagos last week confirmed scarcity and that the price was as a result of demand outweighing supply and that the development is also a fall out of deregulation 
 

Related Posts

Meningitis: Death Toll In Kebbi Hits 56 – Govt 

Meningitis: Death Toll In Kebbi Hits 56 – Govt 

March 24, 2025
Navy Rescues 8 Police Officers,1 Civilian From Boat Accident In Bayelsa

Navy Rescues 8 Police Officers,1 Civilian From Boat Accident In Bayelsa

January 8, 2025
PHOTO NEWS: SIFAX Thanksgiving and Night of Praise 2.0

PHOTO NEWS: SIFAX Group Thanksgiving and Night of Praise 2.0

December 18, 2024
NEPC Frowns at $480m Expenditure on Importation of 3m Tonnes of Rice Importation

Eastern Ports Set for Boost in Investments as Dantsoho Tours Onne and Rivers Port Complexes

December 6, 2024

Discussion about this post

Latest News

IMO ELECTIONS: Oyetola Flags Off Nigeria’s Election Campaign in London

IMO ELECTIONS: Oyetola Flags Off Nigeria’s Election Campaign in London

June 20, 2025

Centre Urges FG to harmonise AfCFTA Strategies For Speedy Implementation 

APFFLON Calls for Urgent Reform of Nigeria Police Force

Vessels Expected At Lagos Ports As At 19th June, 2025

Dantsoho Front Lines Human Capital Development As NPA Promotes 1,500 Employees

Navy Arrests 3 Suspected Oil Thieves In Delta

Workers’ Welfare: Maritime union issues 21-day ultimatum to Melsmore

Customs Intercept Guns, 1,433 Live Cartridges In Ogun

Maritime Police, Clearing Agents Task Force Forge Alliance to Tackle Port Corruption, Economic Sabotage

Vessels Expected At Lagos Ports As At 18th June, 2025

Adeyanju Commends MWUN Over Election of New Executives of Shipping Branch

IPMAN Urges Reversal Of Truck Parking Fee

kindly like our Facebook page

Health

Why Prostate Disorder Cases Are Increasing Among Nigerian Men – Experts
Health

Why Prostate Disorder Cases Are Increasing Among Nigerian Men – Experts

June 1, 2025

Association of Medical Laboratory Scientists of Nigeria, Lagos State chapter, has raised the alarm over the increasing number of men...

20m Nigerians Live With Mental Health Issues, Says WHO

20m Nigerians Live With Mental Health Issues, Says WHO

June 1, 2025
Health Facts You Didn’t Know

How Your Habit Affects Fertility

May 19, 2025
Fruits For Raining Season

Fruits For Raining Season

May 19, 2025
See Mental Illness Like Other Treatable Diseases – Says Suicide Survivor

Health Facts You Didn’t Know

May 19, 2025
Alligator Pepper: Benefits, FAQ, Side Effects, & Warning

Alligator Pepper: Benefits, FAQ, Side Effects, & Warning

April 28, 2025
Water And Health: The Relationship That Helps Life

Water And Health: The Relationship That Helps Life

April 28, 2025
Some Truths and Myths About Agbo Herbal Concoction

Some Truths and Myths About Agbo Herbal Concoction

April 21, 2025
The Malaise Of Misuse of Antibiotics

The Malaise Of Misuse of Antibiotics

April 14, 2025
Urologist Debunks Breast-Cancer Prevention Myth

Urologist Debunks Breast-Cancer Prevention Myth

April 14, 2025

© 2021 Shippingposition

Navigate Site

  • Home
  • About Us
  • Contact us
  • Privacy Policy
  • Sitemap
  • Terms

Follow Us

No Result
View All Result
  • News
  • Coast To Coast
  • Oil and Gas
  • Maritime Education
  • The Terminals
  • Maritime safety

© 2021 Shippingposition