Lagos Suffers more from Fuel Shortage.
The price of gasoline increased by between N205 and N220 per litre at the gas stations. This suggests that depot owners and independent marketers are starting to avoid selling gasoline as a result of the growing value of the dollar relative to the local currency and their inability to get such funds.
This situation explains why many marketers and depot owners decline to go and lift gasoline from the mother vessel. When some of them do, they must account for the cost of the dollar and other logistics costs at their depot because no business wants to operate at a loss.
According to Mike Osatuyi, National Operations Controller for the Independent Petroleum Marketers Association of Nigeria (IPMAN), marketers are finding it harder and harder to obtain the product due to the supply constraint.
Additionally, he said that the cost of delivering gasoline from the depots to members’ filling stations might sometimes reach N200 per litre.