Petrol Sales Down by 40% Over N145 Pump Price

The sale of Premium Motor Spirit, PMS, otherwise known as petrol has dropped drastically by 40 per cent following the recent increase in pump price to N145 per litre.

The was revealed at the weekend by the chairman of the Major Oil Marketers Association of Nigeria. MOMAN, and group chief executive of Forte Oil Plc, Akin Akinfemiwa.

Akinfemiwa stated that though Nigeria was a country with a lot of dependence on petrol there are strong indications that motorists have devised various means of using less petrol in view of the high cost.

He stated that as a foremost indigenous energy solutions provider, his company’s customer surveys showed that motorists had resorted to various journey-planning initiatives to reduce fuel usage.

He identified some of the initiatives to include, car-pooling, use of government’s mass transit buses and even cutting down on unnecessary movements and visits.

“If you may agree with me, there has been a light flow of traffic in the Lagos metropolis in very recent times. We however deem this to be the initial reaction and thus believe that the demand will improve over time,” he added.