The Independent Petroleum Marketers Association of Nigeria (IPMAN), Western Zone, has said the increase in the pump price of Premium Motor Spirit is caused by the hike in private depot prices.
Chairman, IPMAN Western Zone,
Dele Tajudeen,
disclosed this an interview with the News Agency of Nigeria ,NAN in Lagos.
Mr Tajudeen, while condemning the increase, said that there had been an increase in depot price of fuel from N148.17 per litre to N178 per litre since last week.
According to him, none of the Nigerian National Petroleum Company Ltd. (NNPC) depots have products and the private depots took advantage of the situation to hike the price.
The IPMAN chairman said the marketers should not be blamed for the increase in pump price, adding that “selling at N170 per litre is not realistic”.
Mr Tajudeen said, “Therefore, our members have no other option than to sell between N195 and N200 per litre within Lagos, Ogun and Oyo states, while we will sell between N200 and N210 in Kwara, Ondo, Osun and Ekiti states.
However, a top official of the Depot and Petroleum Marketers Association of Nigeria (DAPMAN), who preferred to be anonymous, told NAN that the scarcity was as a result of a shortfall in product allocation from the NNPC.
According to the source, a large portion of product allocation was given to the Major Oil Marketers Association of Nigeria (MOMAN) because it is believed that they have a large reach of retail outlets.
“Ex-depot price has been between N162 and N163 per litre for marketers within Lagos and its environs, while between N164 and 165 for marketers outside Lagos like Calabar, Port Harcourt, Owerri and so on.
“Some foreign vessels that came into the country refused to discharge, due to financial challenges.
NAN
