Saturday, September 19, 2020

Petrol Pump Price: Marketers Insist on ₦162 as FG Orders ₦152.56

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Petrol Pump Price: Marketers Insist on ₦162 as FG Orders ₦152.56

Independent marketers had insisted that Premium Motor Spirit otherwise known as petrol will be sold at ₦162 per liter depict Federal Government directives to sell at ₦152.56.

The Chairman of Independent Petroleum Marketers Association of Nigeria (IPMAN) for South West, Alhaji Dele Tajudeen, who spoke with journalists at Abeokuta, Ogun State on Wednesday evening, directed the members of the association to start selling the product at ₦162 per liter. The Vanguard reported.

He said the decision followed the Increase in deport loading price by the Federal Government. He said the price from depot at been placed at ₦152.56 per liter. He said marketers have no option than to sell it for ₦162 per liter in order to meet up with overhead costs.

He added that the Government has to consider the cost to transport the product from depot to their respective filling stations, settled some levies with the regulatory agencies, and other costs.

By the time all these bills have been settled, the cost price will be ₦160 and marketers sell for ₦162 in order to pay staff and gain.

Federal Government had earlier directed that the pump price should be ₦152.56 nationwide.

The government is yet to respond to the marketer’s claim at the time of this report.

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