February 7, 2023

Fuel scarcity: Queues diminish in Delta as product sells for N260 per litre


By Festus Ahon, ASABA

The long queues which have trailed the scarcity of Premium Motor Spirit, PMS, (fuel) in Warri, Effurun and other parts of Delta State have begun to diminish, following the massive supply of the product to marketers in the State.

Checks revealed that the product
which sold between N420 and N510 per liter now sells between N205 and N260 in the areas.

An indigenous oil and gas company, Matrix Energy Group and the Nigerian National Petroleum Corporation Limited, NNPC, which have depots in Warri, it was learned, intervened in the development.

It was reliably gathered that
in line with the directive of the federal government, some major marketers like Matrix Energy Group entered partnerships with some independent marketers to ease the distribution of the product

Sources said NNPC has sent five additional vessels totalling 100 million litres to Delta State with a view to easing the scarcity of the product and its pump price.

Some major marketers that own retail outlets including Matrix and Shafa were already dispensing a litre at the rate of N205 in Warri, Effurun and their environs.

It was reliably learnt that the five NNPC vessels will berth in the various fuel depots in the state latest this week. The product will be distributed to the depots at Warri Refining and Petroleum Company (WRPC), Warri, Oghara and Koko.

An industry player, who confirmed Matrix Energy’s intervention in making the product available,
said there was an arrangement with marketers in Benin, Edo State, to supply one million litres weekly to the city to cushion the scarcity of the product in the state.

According to him, “The federal government has directed all depot owners in the coastal areas to focus on supplying their primary areas which is what had led to the availability of the product.

“The government wants to see that the product is available. Effective Monday, the pump price is expected to go down to N190. If you go around, some filling stations like Matrix Energy have been selling the product at N205. But hopefully, we will see reduction continue to reflect in the pump price as availability of the more vessels increases this week”.