Petrol Pump Price: IPMAN Directs Members to Sell at Old Rate of 143 per Litre


All members of the Independent Petroleum Marketers Association of Nigeria (IPMAN) has been directed to sell petrol at the old rate of N143 per litre.

According to IPMAN, the old price should be maintain pending new directive by the Petroleum Products Pricing Regulatory Agency (PPPRA).

IPMAN National Public Relations Officer, Alhaji Suleiman Yakubu disclosed this on Wednesday in Abuja.

Yakubu said IPMAN would brief its members as soon as it received directive from PPPRA.

He advised marketers to sell at the old rate, pending when PPPRA would announce its monthly pricing modulation for the product.

This directive is coming on the heels of the Petroleum Products Marketing Company recently announced new ex-depot rate of N138.62 per litre from the previous N132.62 per litre.

The ex-depot price is the price at which depot owners sell the commodity to retail outlets.

PPMC, a subsidiary of Nigerian National Petroleum Corporation (NNPC) had on Tuesday fixed the ex-depot price of premium motor spirit (PMS), known as petrol, at N138.62 per litre.

The PPMC Manager, Sales, Mohammed Bello, had in a statement said that that the new price would come into effect from August 5.

In the last four months PPPRA had adjusted its ex-depot price thrice.