Petrol price rises to N240 per litre
...as shortage persists in Lagos Independent marketers of petroleum products, yesterday, increased the price of petrol further to N240 per litre, from about N230 per litre as shortage persisted in Lagos and its environs yesterday. It was gathered that the marketers currently lift the product from the depots at N200 per litre, unlike in the past when they lifted the product for N148 per litre. Consequently, the pump price of petrol has increased to N240 per litre, from the N165 per litre government regulated the price, while the total cost hovered at N220 per litre, including transport and margins. However, the major marketers, who have much capacity and access to the product continued to sell at N175 per litre. Long queues at the retail outlets of the major marketers were, however, noticed yesterday as many motorists and other users preferred to wait patiently for the product. Meanwhile, some illegal operators were seen in some parts of Lagos, including Ikorodu road, hawking the p...