IPMAN laments sale of petrol for N102/litre by private depots

The Independent Petroleum Marketers of Nigeria (IPMAN) yesterday raised a fresh alarm that private depot owners are selling Premium Motor Spirit (PMS) for N102 per litre, The Nation reports.

Following the new price regime which the Petroleum Products Pricing Regulatory Agency (PPPRA) activated last month, depots were expected to sell the product to marketers at N77 per litre. However, the IPMAN Vice Chairman, Alhaji Abubakar Dankingari, said private depot owners are selling petrol for N102 per litre.

According to him, members of the association simply refused to patronise them because of the obvious colossal losses they would incur. He lamented that this situation  compelled the marketers to resort to buying from the NNPC, where the product is over-subscribed. Dankingari, who revealed that his members had over 7,000 tickets pending with the NNPC for over three months now, lamented that his members had no petrol to sell.

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