Bill Gillis-Harry, President of the Petroleum Products Retail Outlet Owners Association (PETROAN), shared this insight during an interview with DAILY POST on Sunday.
Addressing concerns about the possibility of petrol prices reaching N1500 per litre by December, Gillis-Harry remarked, “Nothing is static.” He emphasized that the unpredictability of petrol prices stems from the deregulation of the oil and gas sector.
He further highlighted that the primary focus for both the Nigerian government and its citizens should be on energy security and the consistent availability of petroleum products. “Right now, I am completely unable to give you an exact figure on what the fuel price will be in December 2024.
“Nothing static. We can’t settle for any figure of fuel price at this moment. We need to be sure that there is sufficient stock of petroleum products to guarantee our energy security. We are not certain of what the future holds,”
In a related development, oil marketers have appealed to the federal government for a N100 billion intervention to prevent the imminent collapse of petroleum businesses in the coming weeks. This request arises as Nigerians struggle to purchase petrol at prices exceeding N1,030 per litre across the country.
It is worth noting that on October 9, the Nigerian National Petroleum Company Limited raised the pump price of petrol in the Federal Capital Territory, Abuja, from N897 to N1,030. Meanwhile, other filling stations are charging between N1,080 and N1,300 per litre, depending on their location.