PETROL STOCK DIPS BY 5.48M LITRES, QUEUES PERSISTS.

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https://drive.google.com/uc?export=view&id=19ln5mIHnAwwoCWK6nEUP7-swNQo-DW1Y
Numbers gotten from the Nigerian midstream and Downstream Petroleum Regulatory Authority on Tuesday showed the total PMS stock of NNPC as at November 6, 2022 was 1,912,725,464 litres.This dipped to 1,907,244,225 litres on November 7, 2022, showing a drop of 5,481,239 litres, while the total days’ sufficiency was 30.84, according to the NMDPRA data as at November 7.
The Nigerian National Petroleum Company Limited’s stock of Premium Motor Spirit,known as petrol, dipped by 5,481,239 litres, according to industry data on Tuesday. The drop in PMS stock was marginal, queue for petrol increases in Nasarawa, Abuja and some other northern states.
Moreso, the queue at the petrol station did not reduce in many northern states on Tuesday despite the claim by NMDPRA that there were over 30 days sufficiency, instead a lot of filling station were closed due to fuel to dispense.
However,NNPC has remained the only importer if petrol into Nigeria for several years now because other marketers stopped petrol imports because they could not access foreign exchange without hassles.
The cost of petrol has risen to N200/litre at depots as at of Tuesday. The PMS Cost, which was about N178 to N185/litre recently, was increased by private depot owners due to the drop in supply by NNPC,among other operational concerns.
The Independent Petroleum Marketers Association of Nigeria and the Petroleum Retail Outlet Owners Association of Nigeria had told our correspondent that tankers were now spending more than one week on queues for petrol at depots.
More so, this had led to empty filling stations nationwide,the development that had caused problem at some of the filling station that sells petrol in, Nasarawa, Niger and Abuja and other neighbouring states.
The reduction in supply by NNPC and the hike in the ex-depot price of petrol at depots in Warri, Lagos and delta State as confirmed by IPMAN, Abubakar Maigandi, the national Vice President.

BY LINE: HUNPE YEMAREN GABRIEL 
Published by shodolamu olawale quadri 

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