The Independent Petroleum Marketers Association of Nigeria, IPMAN, has warned that pump price may go over N145 if depot owners continued to sell between N136.50 and N137 per litre.
IPMAN made this known as they urged the Federal Government and the Nigerian National Petroleum Corporation to ensure that private depot owners maintain the official ex-depot price of Premium Motor Spirit (petrol) at N133.28 per litre.
In an interview with Punch, Chairman, IPMAN, Ore Depot, Shina Amoo said:
“Private depot owners have increased the ex-depot price of PMS beyond N133.28 per litre. We bought a litre of PMS between N136.50 and N137 per litre from private depot owners last weekend. This can affect the pump price at which independent marketers will sell the product, and it will certainly be beyond the N145, which is the official pump price.
“We, independent marketers, are law-abiding. We don’t want to sell above the official pump price and that is why we are urging the government to do something about it and make the product abundantly available. They should monitor private depot owners to make sure they don’t sell above the official ex-depot price of N133.28.
“The NNPC is the sole importer and nobody has the right to increase the price but if they continue to sell to us above the official ex-depot price, we will have no option than to increase the pump price above N145 per litre. The increase in price by private depot owners will eventually push the burden on the marketers and final consumers.”