Nigerians may be set to witness a hike in the price of petrol, as members of the Independent Petroleum Marketers’ Association of Nigeria (IPMAN) have been directed to sell a litre of petrol at N150.
This comes after the Federal Government’s approval of N138.62 as the ex-depot price for a litre. But, The Nation learnt that despite the ceiling, Private Depot Owners (PDO) sell the product to dealers for N139 per litre.
The new price modulation was announced on Tuesday by Petroleum Products Pricing Regulatory Agency (PPPRA).
IPMAN’s Vice President Abubakar Maigandi told our Abuja correspondent yesterday that the Federal Government was yet to come up with a new pump price for this month.
He said since the Nigerian National Petroleum Corporation (NNPC) depots sell the product for N138.62 per litre, private depots decided to increase the price marginally to N139 per litre.
He said: “The Federal Government has not directed us (marketers) to sell petrol at any pump price. Of course, you are aware that the product has been deregulated so we are at liberty to sell according to cost price.
“It seems that the private depots decided to sell the product at N149 per litre because NNPC depots are selling it at N148.62. Marketers have to sell in view of the cost they incur so some of us have instructed our stations to sell it for between N148 to N150 per litre.
