{"id":227966,"date":"2022-11-09T15:32:48","date_gmt":"2022-11-09T14:32:48","guid":{"rendered":"https:\/\/www.withinnigeria.com\/news\/?p=227966"},"modified":"2022-11-09T15:32:48","modified_gmt":"2022-11-09T14:32:48","slug":"fuel-marketer-realistic-cost-of-petrol-is-n200-per-litre","status":"publish","type":"post","link":"https:\/\/www.withinnigeria.com\/news\/2022\/11\/09\/fuel-marketer-realistic-cost-of-petrol-is-n200-per-litre\/","title":{"rendered":"Fuel Marketer: Realistic cost of petrol is N200 per litre"},"content":{"rendered":"<p>According to Mike Osatuyi, an independent petroleum products marketer, the only realistic petrol pump price is between N200 and N210 per litre.<\/p>\n<p>He claimed that the <a href=\"https:\/\/www.withinnigeria.com\/news\/2021\/06\/20\/take-realistic-decisions-that-will-positively-impact-citizens-buhari-tells-ecowas-leaders\/\">Federal Government&#8217;s<\/a> pricing template, which sets the pump price at N169 per litre of gasoline, is grossly unrealistic.<\/p>\n<p>Osatuyi, speaking in Lagos on Tuesday, stated that this is when compared to the landing cost of the fuel at the station, which is N194 per litre.<\/p>\n<p><strong>He told The News Agency of Nigeria:<\/strong><\/p>\n<blockquote><p>I buy petrol at N186.50k per litre from the depot and it costs me about N9.50k to get the same litre to the pump after paying levies.<\/p>\n<p>How do you want me to sell at N169 per litre when I have incurred additional costs?<\/p>\n<p>No marketer can sell petrol at the regulated price of N169 per litre with the current realities when landing cost is N194 per litre.<\/p>\n<p>Those saddled with the responsibility of petroleum importation and pricing should be held responsible for the price disparities at the fuel stations.<\/p>\n<p>The current price of petrol does not reflect inflation, Foreign Exchange costs, union dues and transportation.<\/p><\/blockquote>\n<p>Osatuyi, the National Operations Controller of the Independent Petroleum Marketers Association of Nigeria, stressed that the government\u2019s pricing template did not address current realities and pricing indices.<\/p>\n<p><strong>He added:<\/strong><\/p>\n<blockquote><p>We should have a current template that will reflect current realities in petrol business pending the time that government would deregulate the sector fully.<\/p>\n<p>There are some cost fundamentals, additional charges, and levies that are not factored into the template currently in use.<\/p><\/blockquote>\n<p>Osatuyi told NAN that government should open up on petrol landing costs and the realistic price at the pumps.<\/p>\n<p>He stressed that a total deregulation of the downstream sector of the petroleum industry remained the best option.<\/p>\n<p><strong>According to him:<\/strong><\/p>\n<blockquote><p>Total deregulation remains the solution to address challenges in the downstream sector of the petroleum industry as it will allow interested investors to import freely.<\/p>\n<p>Total deregulation remains the best solution to ending fuel scarcity.<\/p>\n<p>The cost implication of total deregulation will make the price of petrol too expensive for Nigerians, but it will shift the burden from the government to end users.<\/p><\/blockquote>\n<p>A NAN correspondent who monitored fuel stations in Lagos reports that most of the fuel stations belonging to independent marketers sold petrol between N180 and N200 per litre.<\/p>\n<p>The correspondent reported that major marketers selling at the official pump price of N169 per litre had long queues.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>According to Mike Osatuyi, an independent petroleum products marketer, the only realistic petrol pump price is between N200 and N210 per litre. He claimed that the Federal Government&#8217;s pricing template, which sets the pump price at N169 per litre of gasoline, is grossly unrealistic. Osatuyi, speaking in Lagos on Tuesday, stated that this is when [&hellip;]<\/p>\n","protected":false},"author":44,"featured_media":227968,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jnews-multi-image_gallery":[],"jnews_single_post":{"source_name":"","source_url":"","via_name":"","via_url":"","override_template":"0","override":[{"template":"custom","single_blog_custom":"211693","parallax":"1","fullscreen":"1","layout":"right-sidebar","sidebar":"single-left","second_sidebar":"default-sidebar","sticky_sidebar":"1","share_position":"floatbottom","share_float_style":"share-monocrhome","show_share_counter":"1","show_view_counter":"1","show_featured":"1","show_post_meta":"1","show_post_author":"1","show_post_author_image":"1","show_post_date":"1","post_date_format":"default","post_date_format_custom":"Y\/m\/d","show_post_category":"1","show_post_reading_time":"0","post_reading_time_wpm":"300","show_zoom_button":"0","zoom_button_out_step":"2","zoom_button_in_step":"3","show_post_tag":"1","show_prev_next_post":"1","show_popup_post":"0","number_popup_post":"1","show_author_box":"0","show_post_related":"0","show_inline_post_related":"1"}],"override_image_size":"0","image_override":[{"single_post_thumbnail_size":"crop-500","single_post_gallery_size":"crop-500"}],"trending_post":"0","trending_post_position":"meta","trending_post_label":"Trending","sponsored_post":"0","sponsored_post_label":"Sponsored by","sponsored_post_name":"","sponsored_post_url":"","sponsored_post_logo_enable":"0","sponsored_post_logo":"","sponsored_post_desc":"","disable_ad":"0"},"jnews_primary_category":{"id":"","hide":""},"jnews_override_bookmark_settings":{"override_bookmark_button":"0","override_show_bookmark_button":"0"},"jnews_override_counter":{"override_view_counter":"0","view_counter_number":"0","override_share_counter":"0","share_counter_number":"0","override_like_counter":"0","like_counter_number":"0","override_dislike_counter":"0","dislike_counter_number":"0"},"footnotes":""},"categories":[2],"tags":[260,30040,50247,2288],"class_list":["post-227966","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-national","tag-fuel","tag-fuel-marketers","tag-mike-osatuyi","tag-petrol"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.8 (Yoast SEO v27.8) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Fuel Marketer: Realistic cost of petrol is N200 per litre<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.withinnigeria.com\/news\/2022\/11\/09\/fuel-marketer-realistic-cost-of-petrol-is-n200-per-litre\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Fuel Marketer: Realistic cost of petrol is N200 per litre\" \/>\n<meta property=\"og:description\" content=\"According to Mike Osatuyi, an independent petroleum products marketer, the only realistic petrol pump price is between N200 and N210 per litre. 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