THE DOWNSTREAM sector of Nigeria’s petroleum business has been thrown into disarray when a document said that the retail price of gasoline is more than N500 per litre.

According to the paper, the price of petrol in Abuja, Lagos, and Kano is N537, N488 and N540 per litre, respectively.

Mr. Farouk Ahmed, Chief Executive of the Nigerian Midstream and Downstream Petroleum Regulatory Authority, NMDPRA, whose agency monitors sector activities, did not reply when they were contacted many times for confirmation.

However, an anonymous oil marketer dismissed it as a hoax, saying, “How can any credible business base its pricing on an obviously fake random list circulating on social media?”