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Fed Govt Slightly Reverse The Price of PMS

Queue at the filing station  The President,  Petroleum Products Retailers Owners of Nigeria( PETROAN), Dr Billy Gills Harry, says the reduction of the product, by the Nigerian National Petroleum Company Limited( NNPCL) is good for the nation'struggling economy, as it would help in soften the difficult situations posed by the sharp rise in the price of petroleum products. While reacting to the issue through a statement issued and signed to the NEWSMIRROR yesterday, Harry said that the slight reversal of the price by NNPCL shows that the government is committed to the alleviation of the problems of the masses. According to him, the reduction in the price per litre of Petrol Motoring Spirit( PMS) from N1,020 per litre to N899 per litre is good, adding that the country will soon get over its problem, if the readjustment of the economy continues. Also, PETROAN's Public Relation Officer, Dr  Joseph Obele said that Dangote Petroleum Refinery had earlier started the r...
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Rising depot prices causes fuel scarcity, says Marketers


By Akinola Ajibade


The hike in private depot prices is the root cause  of the increase in the pump prices  of Premium Motor Spirit (PMS) in the country, the Independent Petroleum Marketers Association of Nigeria (IPMAN), Vice Chairman in charge of Western Zone, Alhaji Dele Tajudeen, has said.

This is coming on the heels of on-going scarcity of the products in Lagos.

Tajudeen, while condemning the increase, said that there had been 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 has product and the private depots took advantage of the situation  to hike the price.

“The only option for our members is to opted for private depots to keep our business moving.

“We are totally against the increase because it will affect our profit margins and the masses.

“Some private depots who have product, deliberately, refused to sell for reasons best known them,” he said.

The IPMAN chairman said that the marketers should not be blamed for the increase in pump price, adding that “selling at N170 per litre is not realistic”.

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.

“Most of the tank farm owners have justified this increase because of different charges, among which is  vessels charges paid in dollars.

“We are equally calling on the management of the Nigerian National Petroleum Company Ltd. (NNPC) and the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) to investigate the arbitrary increase in fuel price by the private depot owners.

 

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