Government Pegs Petrol Price at N185 Per Litre

Independent marketers set arbitrary rates for gasoline, which is currently officially priced at 185 per litre.

The Federal Government may have discreetly authorised 185 as the new gasoline pump price per litre even though the country is still experiencing a fuel shortage.

The approved pump price was relayed to significant marketers in a document early on Thursday, according to a story by The Guardian.

It had already been reported that gas stations in Lagos had begun to raise their pump prices to the authorised 185 per litre.

CredibleNews discovered that individual filling stations in major cities like Lagos and Abuja set arbitrary pricing ranging from N240 to N270, and that only large merchants were selling at the official pump price.

Many filling stations had since November last year adjusted fuel prices to meet their operating expenses.

Transport fares have gone up by about 100 per cent for both intra and inter city trips. Long queues have almost become a permanent feature at many filling stations owned by major marketers anytime they open to sell fuel.

The situation always is chaotic and this extends to the main road causing traffic jam.

The Lagos State Government has just announced the restriction of fuel stations along the state highways to 9am to 4pm daily when selling fuel.

This is to reduce the trouble of traffic congestion caused by fuel dispensing.

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