By Yakubu

Despite the recent cut in ex-depot prices of Premium Motor Spirit (PMS) and Automative Gas Oil (AGO) otherwise known as petrol and diesel respectively, by Dangote Refinery and Petrochemical Company Limited, Nigerians have expressed indifference to the ex-depot price reduction.

Most consumers of the products are still lamenting the high cost of PMS and AGO at filling stations across the country as prices climbed over N1, 300 per liter for petrol while diesel mostly consumed by businesses and industrial sector peaked at N1,800 per liter.

“ We have reduced the petrol price to N 1,250 a liter at gantry> This has to do with the current reduction in global oil,prices though everything is still volatile and requires caution”

Industry reports indicated that companies like Aiteo and NIPCO, were selling at N1,272 at depot level, while Integrated Energy ,ASCON, and African Terminal were offering the product at about N1,274 per liter before the last price adjustment by Dangote Refinery.

Investigation also revealed that cost of transportation has not reduced due to the cut by Dangote Refinery rather many Nigerians are still reeling under high cost of transportation both on land and on air.

Mallam Isah Onimisi , a driver who ply Okene –Abuja said transport fare has not changed as motorists still charge about N15,000 per trip while Abuja Kaduna goes for between N10,000 and N12,000 depending on  motor parks where passengers  entered   the vehicle.

In most petrol stations in Federal capital Territory (FCT) , Kaduna, Okene, Lokoja , Lagos and its environs, prices of petrol hovers around N1,350 to N1, 400 per liter depending on your location before the reduction in ex-depot prices but continued as prevailing prices yesterday two days after the price reduction. It was also gathered that travelling from Lokoja to Abuja cost between N5, 000 and N6, 000 and that reduction in ex-depot price of petrol not brought down the transport fare on that route.

Mr. Chinedu Okafor, a printer told Daily Newscraft that the cost of diesel has not changed, “I bought at N1, 750  per liter last week and yesterday (Sunday ) I bought at N1,800 per liter.

Okafor urged the government to help the small-scale businesses because energy cost both diesel and electricity now eat the chunk of its working capital.

The increase in prices does not exclude the domestic gas price, where a 12kg cylinder now go for N24, 000 per 12kg cylinder. A 1kg cylinder now sell for N2, 000 in most retail outlets in Abuja.

This same size was sold at N19, 000 per 12kg cylinder about two weeks ago.

At independent petrol stations, fuel is still sold at over N1, 350 per liter despite the reduction in ex-depot price by the largest refining company in Nigeria.

 In a fresh price adjustment announced y Dangote refinery at the weekend, the company said” the reductionparticularly in Petrol and diesel reinforces its commitment to making refined petroleum products more affordable and supporting economic activities across the country.

Under the new ex-depot prices ,Pms came down to N1,250 per liter from N,275 per liter while diesel came down to N1,700 per liter from N1,800 a liter.

“ Dagote statement added,” The price review comes amid the refinery’s continued efforts to improve supply efficiency,deepen domestic refining and provide cost relief to consumers and businesses that depend heavily on petroleum products for transportation,power generation and industrial operations”