Browsing: Petrol

Petroleum depots throughout Nigeria are experiencing a decrease in activity due to a lack of products brought on by fluctuations in the foreign exchange rate. As a result, the landing cost of Premium Motor Spirit (PMS), also known as petrol, has jumped from N651 per litre in August to N720, a development that is making it harder to sustain business operations in the oil industry.

The Independent Petroleum Marketers Association of Nigeria (IPMAN) debunked the insinuations that marketers of Premium Motor Spirit, popularly called petrol, are getting set to shut down operations beginning from Monday once the government starts the enforcement of the N195/litre pump price.

There’s the possibility that Petrol Tanker Drivers may embark on strike as this action, if it eventually happens, would worsen the already existing fuel scarcity witnessed in mainly Lagos State and the Federal Capital Territory, FCT, Abuja.