The Independent Petroleum Marketers Association of Nigeria (IPMAN) has revealed on Wednesday, that the Federal Government did not only increase pump price but also have increased the depot loading price of Premium Motor Spirit (PMS) aka Petrol.
While lamenting about the development, IPMAN has issued a new price to sell PMS to its members in the South-West States, adding N10.44 per litre to the government’s new price.
The Zonal Chairman of IPMAN, ‘Dele Tajudeen, disclosed the new price, N162 per litre, in an announcement to journalists in Abeokuta, Ogun State.
He said the directive followed the increase in the depot loading price of the product by the federal government, IPMAN has no option than to sell at N162 to be able to meet up with the overhead cost.
He explained members would have to make provision for the cost of diesel to run generator that power dispensing machines.
The chairman added that they will also incur a higher cost of transporting the fuel from the depot to filling stations and settle statutory levies with regulatory agencies.
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