Independent Petroleum Marketers of Nigeria (IPMAN) yesterday raised a fresh alarm that private depot owners sold Premium Motor Spirit (PMS) for N102 per litre.
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.
Besides, all Nigerian National Petroleum Corporation (NNPC) affiliate petrol stations were supposed to sell petrol at N86 per litre, while independent marketers were expected to sell for N86.50 per litre.
But IPMAN Vice Chairman, Alhaji Abubakar Dankingari, who spoke on phone yesterday, said private depot owners are selling fuel 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.
“If you sell it at N86.50 automatically you are going to lose a lot of money. That is the reason why some of our members are selling above government approved pump price. They are those who buy from the private depots. Even now, I called one of the directors in NNPC, I told him about the situation and he said he is aware. “