At N169/per litre, Why Lagosians will buy petrol cheapest in new price regime

– North East, costliest at N184
Nearness to petroleum products’ depots saved Lagosians money in the newly deregulated pump price regime released yesterday.
They will pay N169 for a litre of the premium motor spirit better known as petrol.
Distance has always been factored into the cost of petroleum products at the pump prompting a system that enables the government pay for the additional distance.
Known as the Petroleum Equalisation Fund, it settles cost incurred in moving the products hinterland.
However, the NNPC on Tuesday obeyed the decades long clamour for justice and removal of subsidy spent on costs incurred by transporters in hauling the products hinterland by transfering the burden to the consumer.
Consequently, users of petrol in the North East, the farthest distance from.depots mainly in Lagos will pay the costliest price of N189, N24 more than the N165 per litre old price.
It is not clear why users resident in Abuja will pay N174 per litre while those in South-South, which produces the crude oil, will pay N179.
There is also no relationship between the location of the country’s petroleum refineries at Warri, Port Harcourt and Kaduna and the pricing confirming that that the refineries are no longer working and the country exports crude oil and imports refined petroleum.products.
The price regime of other petroleum products such as diesel, Kerosine and aviation oil.has not been published .