Private oil advertisers have given excuses why the direct cost of Premium Motor Spirit, PMS, otherwise called petroleum, must be reviewed and increased.
The advertisers are likewise approaching the FG to mediate to empower them get to dollars at an extraordinary rate for the importation of petroleum.
They said offering the item at N145 per liter is never again achievable with the present conversion rate.
Private advertisers said the lack of dollars and increment in unrefined costs, have made it unrewarding to import petroleum and offer same at N145 per liter.
The president of the private marketers Association Mike Osatuyi, told correspondents, "The issue is that the importation (of oil) is being taken care of very nearly 100 for every penny by the Nigerian National Petroleum Corporation as private merchants have pulled out in light of the fact that the expansion in rough cost has influenced the arrival to cost enter appropriation.
"At the point when the rough value hit $59 per barrel, we couldn't offer petroleum again at N145 per liter on the off chance that we were bringing in without anyone else.
"It is just the administration (NNPC) that is bringing in the product for now."
He expressed that the Central Bank of Nigeria, CBN, ought to have interceded by giving dollars at an exceptional rate
exclusively for the PMS importation for both the NNPC and private merchants.
He included, "At this moment, the arrival cost of the PMS is N154.
In the event that you are bringing in at N305 to the dollar, when you include bank charges, it comes to N307 to the dollar.
"In the event that you apply that to the present unrefined value, the arrival cost is N154-N155. When you include bank charges, the pump cost is about N160-N167.
"Before external marketers can begin importation, the dollar must be N250 and we can offer at the cost of N145 per liter."
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