Petrol: Kano IPMAN Orders Marketers To Sell At N150 Per Litre
TAYO ELEGBEDE
The Kano State Chapter of the Independent Petroleum Marketers Association of Nigeria (IPMAN) has directed its members to sell premium motor spirit otherwise known as petrol at N150 per litre.
Chairman, IPMAN, Kano Chapter, Bashir Danmallam, who confirmed this order in a statement to the News Agency of Nigeria, said the directive had become necessary following the approval of new depot prices of petroleum products by the Petroleum Products Marketing Company (PPMC).
Danmallam stated that IPMAN members have been directed to comply with the N150 per litre sale of petrol to the public, adding that private depots have also increased their price of the product to N139. 5 per litre to be sold to members.
He said, “This is in compliance with what the government said earlier when the downstream market was deregulated that prices of petroleum products may be reviewed upwards or downwards on monthly basis based on the price of crude oil at the international market.”
Danmallam, however, assured the public of availability of the petroleum products at all times.
The Minister of State for Petroleum Resources, Timipre Sylva, while clarifying the government’s intention on the deregulation of the downstream oil and gas sector last month, said they were not involved in the pricing of petroleum products anymore but rather can advise on pricing through its regulator based on the international market
prices.
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