The Independent Petroleum Marketers Association of Nigeria (IPMAN) has said that selling Premium Motor Spirit (PMS) at N180 per litre is no more visible in Oyo and Osun states.
Mr. Mutiu Bukola, the IPMAN Chairman of Ibadan Depot, which serves the states of Oyo and Osun, stated this in an interview on Wednesday.
According to reports, long queues at Ibadan’s petroleum stations were confirmed during a visit to the city on Wednesday.
Newsmen discovered that the long lines were caused by rumours of a petrol shortage across the country.
IPMAN has however said that its members would increase the pump price.
It stated that this decision was necessary so as to avoid the long queues in Oyo and Osun.
Bukola explained that it is not possible for members of the association to sell at the old price.
He said that this is due to the increment in the landing cost and the cost of transportation.
He said, “We can’t buy petroleum in Lagos again. Whatever we see, they are selling for us at the rate of N178 without transport.
“The landing cost is now N195. If we buy at the rate of N178, it will take a minimum of N12 to get to Ibadan. If you add N178 to N12 you will know how much it will be.
“We are struggling to ensure that queues are no more in the petroleum stations.
“But, we will be selling at the rate of N195 to N200 to avoid long queues in Oyo and Osun states.”
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