IPMAN – The Increasement In Petrol price

The Independent Petroleum Marketers Association of Nigeria has blamed the recent rise in the pump price of fuel on an increment in the ex-depot cost of petroleum.

As fuel scarcity worsened in many parts of the country in the last fortnight, many fuel stations increased the pump price of petrol higher than the official N165 per liter.

In some parts of Lagos, Ogun and Bayelsa for instance, the price of a litre of petrol went as high as N200 to N300 per litre.

Chairman, IPMAN Benin Depot, Mr. Douglas Iyike, said this while reacting to a directive issued by the Nigeria Union of Petroleum and Natural Gas Workers asking that the price should be reversed.

According to him, the increment is due to the hike in the ex-depot price of petrol which should be the area where NUPENG should direct its threat rather than directing same at marketers.

He said;

“We have read in newspapers the supposed 24-hour notice issued to marketers regarding the increment in the pump price of petrol.

“We want to place it on record that the increment is not due to any fault of oil marketers because we can only sell based on the price at which we buy petrol from the depots.

“There has been an increment in the ex-depot price which has left marketers with no option than to increase the pump price of petrol above the official N165 per litre in recent weeks.

“We believe that addressing the issue of the ex-depot price should be the focus of NUPENG and not attempting to picket petrol stations which might lead to a breakdown of law and order.”

About Nwosu Esther

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