Marketers Seek N165 Petrol Price, FG Says No

Petroleum product marketers have demanded an upward review in the pump price of the Premium Motor Spirit (also known as petrol).

This, they said, would make importation of the product profitable.

They said the free fall of the naira against the dollar had made it unprofitable for them to import petrol and sell at the current rate of N145 per litre.

But the Federal Government said there was no immediate plan to raise the pricce of petrol.

This is coming nearly four months after the government increased petrol prices from N86 and N86.5 per litre to between N135 and N145 per litre.

Some marketers had early last month said Nigerians should prepare for another increase in petrol prices due to the continued scarcity of foreign exchange to finance the importation of the product.