IPMAN Identifies ‘Cause’ Of Increase In Fuel Price In Nigeria

IPMAN Identifies ‘Cause’ Of Increase In Fuel Price In Nigeria

Private depot owners have been blamed for the increase in the prices of petroleum products in Nigeria.

In a statement released on Friday, the Kano State chapter of the Independent Petroleum Marketers Association of Nigeria, IPMAN, alleged that some private owners are independently adding to the sale price of the products.

IPMAN said it was necessary to inform the Federal Government of the development in order for the government and the public not to criticise its members of the unstable price of the Petroleum Motor Spirit.

The State chairman of IPMAN, Alhaji Bashir Danmallam, revealed that the organization have found out that some of the private depot owners had increased the price of fuel from N148 per litre to between N153 and N155 per litre since last week.

The statement read, “Some private depot owners are trying to sabotage the Federal Government by unilaterally increasing their prices even though the government has not raised the fuel pump price.

“We’re equally calling on the Management of the NNPC to investigate the issue as some of the private depot owners have since Friday last week increased the price from N148 per litre to between N153 and N155 per litre. We know it is only the Federal Government that imports fuel into the country.

“As I’m talking to you, private depot owners in Warri, Calabar Lagos and Oghara in Delta State have increased their prices. We hope the management of the NNPC will investigate and intervene.”

Meanwhile, the Nigerian National Petroleum Corporation (NNPC) has said a huge price difference in the pump price of petrol in Nigeria and neighbouring countries is fuelling the smuggling of petroleum products, Ezenwoko’s Blog reports.

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