- Petroleum marketers say the Depot and Petroleum Marketers Association of Nigeria have increased the price of fuel sold to marketers by N16
- The fuel dealers state that they cannot continue to sell fuel to consumers below the cost price
- NNPC assures Nigerians that there are no plans to increase the price of petrol
Petroleum marketers have threatened to increase petrol price from the approved price of N145 to about N160 per litre.
The Ore depot branch of the Independent Petroleum Marketers Association of Nigeria (IPMAN) said the looming hike was due to the fact that Depot and Petroleum Marketers Association of Nigeria had increased the price of fuel sold to marketers by N16.
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The chairman of the branch, Shina Amoo, told the Punch newspaper in an interview on Saturday, December 2, that though the Nigerian National Petroleum Corporation (NNPC) did not increase the price they supplied the product to private depot owners, the latter had chosen to sell the product to marketers at N144 per litre.
He said: "We want members of the public to know that we can no longer continue to sell fuel at the government approved price. The private depot owners sell a litre to us at a price between N142 and N144 per litre, which should be sold at N133.28. They got the product from the NNPC at N117 per litre.
“We will transport the product from the depots to our various stations and pay workers as well as incur other expenses. So, how will anybody expect us to continue to sell fuel to consumers below the cost price? It is not possible. We will have to increase fuel price to about N160 per litre.”
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Amoo, however stated that marketers in Ondo, Osun and Ekiti states would be able to lift petroleum products directly from the depot if the NNPC expedites action on the Ore depot.
Meanwhile, Nigerians have been assured by the Nigerian National Petroleum Corporation (NNPC), that there are no plans to increase the price of petrol, Punch reports.
The development was made public in a statement issued by Ndu Ughamadu, Group General Manager, Group Public Affairs Division, NNPC.
NAIJ.com gathered that the national oil corporation made its comments in reaction to threats by the Independent Petroleum Marketers Association of Nigeria (IPMAN), Lagos chapter, to withdraw services due to alleged discrepancies in the ex-depot price of petrol.
The NNPC further disclosed that there was enough Premium Motor Spirit to sustain the country till December and beyond, as 25 vessels laden with petroleum products were also being expected to berth between now and January 2018 to further boost supplies.
Price of petrol crashes in Nigeria on NAIJ.com TV
Source: Naija.ng