Fueling stations across the country can now sell Premium Motor Spirit (PMS) otherwise known as petrol at any price having been advised by the Independent Petroleum Marketers Association of Nigeria (IPMAN) at a sustainable price within their environments.
In a short statement by its Secretary, Akeem Balogun, the Association said with the predicament and the current price of PMS at the private depot, there was no way they could sell PMS for less than N180 per litre.
Until now, petrol sells for N165 but the scarcity of the commodity in some states of the federation has caused the removal of the price cap. This development is likely to push up the pump price above N200 in some remote areas.
“Distinguished marketers, the Chairman and executives in conjunction with some senior members of our unit, organised a press conference today 20th June 2022, at IPMAN HOUSE Ejigbo Lagos, where we explained our predicament with the current price of PMS at the private depot.
“We explained that with the current price, there is no way we can sell less than N180 per litre.
“On this note, members are hereby advised to sell at a sustainable price within their environment. Just make sure that the price is on your pump.
“Kindly contact the Secretariat should you have any authority challenging your operations,” the statement read.
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