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Some Nigerian filling stations have shut down following speculative hikes in the price of premium motor spirit.
Total, Emedab and other filling stations are closed as it was Thursday morning showed.
DAILY POST contacted the national president of the Petroleum Products Retail Outlets Owners Association of Nigeria, Billy Gillis-Harry on the matter and he said that genuine petrol retailers will not close their outlets over fuel price speculation.
But he said the association will keep an eye on the situation.
Genuine petrol retailers can’t close a station because of price speculation, because prices can move against them. “but we will be watching the situation,” he told.
This is amid the rebound of hike in crude oil prices on Wednesday. The United States and Iran have resumed airstrikes in the Middle East.
US President Donald Trump has announced the end of the ceasefire between his country and Iran.
Brent and West Texas Intermediate crude oil prices jumped more than 4 percent to $77 and $73 a barrel from $72 and $68 a barrel the previous day.
Following the price volatility, depot owners in Nigeria raised automotive gas oil/diesel prices by 3 percent to N1,450 per liter.
Meanwhile, fuel prices were unchanged yesterday at most filling stations in Abuja and its environs at N1155 and N1299 per litre.
The Independent Petroleum Marketers Association of Nigeria said the retail pump price had dropped by at least N125 per litre in the last three to four weeks.
The Dangote Refinery on Wednesday announced free delivery of its petrol product at N1075 per dollar in five states and the Federal Capital Territory, Abuja.
