Buying and reselling petrol

[Heatman]

Over here in Nigeria, there is always fuel scarcity during Christmas especially from December 18th to 31th, and also January 1st to 13th.

I always buy off lots of petrol from filling stations and store them up. Once it's Christmas time when the scarcity kicks in, I resell the petrol three times of what I bought it.

 

[Sincerem]

hmm, I know that during the festive periods things top up cos of scarcity of things. But the one you are saying that you make 3× from the reselling of your long lasting petroleum, looks strange to me. It will work that way if its during subsidy time.

 

[tuna89]

Buying and selling of petrol in Nigeria is otherwise known as the black market and is not too advisable except you wish to flout some rules because such businesses are termed illegal. Whenever it is hard to get fuel, then such schemes would be patronized and you have to prevent being cut.

 

[mcjerry]

Over here in Nigeria, there is always fuel scarcity during Christmas especially from December 18th to 31th, and also January 1st to 13th.

I always buy off lots of petrol from filling stations and store them up. Once it's Christmas time when the scarcity kicks in, I resell the petrol three times of what I bought it.

That is a good business. In this world, a smart person always get money from every opportunity that rises.

My mom also always buy palm oil and keep it home till the time that the price rise up

 

[Sariana23]

My country is an oil producer and exporter, therefore we have no problems with gasoline, and in our case the storage and possible sale of gasoline is penalized with jail. Therefore I do not recommend it, I do not know how legal it may be in other countries, I know that in some it is black market.

 

[Sincerem]

In my country if you own a legalized feeling station for all kinds of refined crude oils, you won't be penalized when you partake in pump price hiking of the crude oil here in my country. Sometimes the marketers who import and export it may hike the price, so the wholesalers being the filling station vendors, hike also to make huge profits. And it comes during the ending of December and beginning of January time here in my country.

 

[eLdavis]

Its a very annoying experience here in Nigeria based on the fact that Nigeria is an oil producing county and they even sell their oil to other countries. I believe the government also have a hand in this. Its a good thing you are making good use of this period and selling as long as you dont mixed it up, because most of those black market sellers usually mix up their petrol

 

[Razor1911]

Its a very annoying experience here in Nigeria based on the fact that Nigeria is an oil producing county and they even sell their oil to other countries. I believe the government also have a hand in this. Its a good thing you are making good use of this period and selling as long as you dont mixed it up, because most of those black market sellers usually mix up their petrol

Even in our country, same thing is happening, the black market is so deep rooted that government is not able to correct it properly. It has become very annoying for us to see the price of such commodity going sky High.

 

[Kayzzy3]

Over here in Nigeria, there is always fuel scarcity during Christmas especially from December 18th to 31th, and also January 1st to 13th.

I always buy off lots of petrol from filling stations and store them up. Once it's Christmas time when the scarcity kicks in, I resell the petrol three times of what I bought it.

A lot of people do engage in this kind of business and it's sometimes called "Black Market". People who do it say it's profit is very big and they think it's a way of getting the product to the hinterlands.

From every indication, buy the product at market price then conveying it to rural areas where facilities to officially sell are not available and sell at hiked price is the way to go.

 

[Razor1911]

Its a very annoying experience here in Nigeria based on the fact that Nigeria is an oil producing county and they even sell their oil to other countries. I believe the government also have a hand in this. Its a good thing you are making good use of this period and selling as long as you dont mixed it up, because most of those black market sellers usually mix up their petrol

Even in our country, same thing is happening, the black market is so deep rooted that government is not able to correct it properly. It has become an annoying for us see the price of sach commodity is going sky High.

 

[Haveit]

I recently heard that the government spends billions on fuel subsidy daily and that is a part payment fuel consumers who buy would actually be generating more money, which means it's good business.

 

[Good-Person]

In my country, there are actually two kinds of petrol: 1) petrol that is of substandard quality and it is available in poor settlements. 2) High-quality petrol that is always available on petrol pumps. Many people engae in this kind of business. They buy petrol at wholesale rate and sell the sub-standard petrol on stalls in poor neighbourhoods.

 

[Patrik]

doing that as a single individual might be illegal depending where you live, from what i know, only permitted agencies (such as gas stations) are allowed to do that

 

[Good-Person]

doing that as a single individual might be illegal depending where you live, from what i know, only permitted agencies (such as gas stations) are allowed to do that

This depends on each and every country because all the countries have different rules. My country certainly allows you to sell a low-quality petrol at low price but such kind of petrol damages the engine.

 

[Heatman]

A lot of people do engage in this kind of business and it's sometimes called "Black Market". People who do it say it's profit is very big and they think it's a way of getting the product to the hinterlands.

From every indication, buy the product at market price then conveying it to rural areas where facilities to officially sell are not available and sell at hiked price is the way to go.

When there is information that the petrol is going to actually increase in price and cause a scarcity, people will start to halt their petrol sales and increase the prices and make it very difficult for people to actually get petrol when they need it.

 

[Sotherefore]

Lolz,you really need to be careful with this type of business because it is not regulated and sometimes you can get in trouble with the government because they do not allow selling of petrol as you are saying, you must make it official.

 

[Alexandoy]

In come rural areas here I have seen roadside vendors selling petrol in big soda bottles. They buy from the station and add 10% for the markup. That is a business that is going on for many years now. It is for the convenience of the tricycles and motorcycles because those vehicles are their major customers. But that business is illegal here. The authorities are just ignoring them for now.

 

[Kelly5]

That's cool.monet there you know. Buying and hording the petrol for the usual period of the scarcity of this commodity is definitely a wise dicision as an investor and a business man

 

[Trexxxy]

Lol. This seems like a nice business idea, however, isn't that illegal, I'm sure the government gives out licenses to people who are allowed to sell petrol. Nice thinking anyway.

 

[Abigael]

That is a really good business idea. I wonder why in Nigeria there is shortage of fuel during those times. But if you can legally carry out the business then it is so ptofitable as many people need the fuel. I am just wondering if you have proper storage for the petrol.