Headline : Fuel Scarcity: Petroleum Marketers Are Not Profiteering By Increasing Fuel Prices, Businesses Need To Survive, Says Gillis-Harry

Read more from the original article on here at www.arise.tv.

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The National President of the Petroleum Products Retail Outlet Owners Association of Nigeria (PETRON), Dr. Billy Gillis-Harry, has said that petroleum retail outlet owners are not using Nigeria’s ongoing bout with fuel scarcity to make profit off of Nigerians by increasing their fuel prices.

The PETRON President said this in an interview with ARISE NEWS on Tuesday where he discussed the current scarcity of fuel in Nigeria- which the Nigerian National Petroleum Corporation (NNPC) linked to logistics issues- that has caused long queues and high prices from black market sellers across the country, as he said that petroleum retail outlet owners have to raise prices in times of fuel scarcity so that marketers will not go out of business.

However, Gillis-Harry emphasised that Petroleum marketers were not taking advantage of fuel scarcity to indiscriminately increase their prices as he said, “We have statistics and scientific analysis of what is being done by our members, and I can tell you, yes, I may not speak for 100% of my members, but most of my members keep to the rules. So, we do not profiteer, but we try to stay above the buying price so that we can be in business. If we sell at the price that everybody is expecting while we bought the product more, then we would be out of business and then it becomes much more difficult and much more dangerous because the station cannot be restocked even when NNPC supply challenges are sorted out, and the refineries that are refining locally start.”

He further explained the need for the slight increase in prices in times of fuel scarcity by saying, “Prior to this situation, a couple of weeks ago, petroleum products in many of our member stations across the country never sold beyond what was approved by NNPC’s selling price. Now today, most retail outlets owners in order to serve Nigerians are doing everything possible to make sure that they have even 5,000 litres in their filling stations to be in business, because don’t forget, whether there is product or not, we must meet overheads, and these overheads are consistent, they don’t change, they don’t fluctuate.

Read more from the original article on here at www.arise.tv.

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