Kerosene Supply Drops, Causes Price Hike


Kerosene supply have reportedly dropped in recent weeks, causing the price of the product to shoot up to about N300 per litre in many parts of the country.

There are also strong indications that despite the recent liberalization of the fuels market, many marketers had yet to start importing kerosene as they continued to focus on Premium Motor Spirit, popularly known as petrol.

The cooking fuel used by majority of Nigerians has recently been unavailable at many filling stations, with many depots in Lagos not loading the product. This has made roadside vendors sell 4.5 litres of kerosene for between N1,200 and N1,400.

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PUNCH reports that the supply of kerosene by the Nigerian National Petroleum Corporation (NNPC) through its subsidiary, Pipelines and Product Marketing Company, which marketers largely depend on for the product, has reduced in recent weeks.

diesel, kerosene prices hiked

In Lagos, a number of filling stations did not have kerosene to sell on Tuesday, while some of those that had the product were selling for as much as N220 per litre, especially in Ikorodu.

The new price hike is not only in Kerosene, as sources report that Diesel is now being sold at between N185 and N200 per litre as against N105-N110.

It is alleged that some of the kerosene marketers have refused to get involved in kerosene importation because of foreign exchange constraints.

Chairman, Nigeria Union of Petroleum and Natural Gas Workers, Lagos Zone, Alhaji Tokunbo Korodo, said the prices of kerosene and diesel would continue to go up if they were not being loaded at the PPMC depots.

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Marketers have therefore called on government to revisit its so-called deregulation and ensure that there is a strict compliance by the major and independent marketers.