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IPMAN Officially Increases Fuel Pump Price

.... IPMAN National President blame it on private depots owners.

TrackUpNews by TrackUpNews
November 24, 2022
in News
Reading Time: 1 min read
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IPMAN Officially Increases Fuel Pump Price
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24 November 2022

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Independent marketers of petroleum products has increased the price of petrol further to N240 per litre, from about N230 per litre

The pump price of petrol has increased to N240 per litre, from the N165 per litre government regulated price, while the total cost hovered at N220 per litre, including transport and margins.

The major marketers, who have much capacity and access to the product continued to sell  between at N175 and N180 per litre as many motorists and other users preferred to wait patiently for the product thereby building long queues at the retail

The National President of IPMAN, Chinedu Okoronkwo, who confirmed the hike in price, put the blame on private depots owners.

He said: “The real cause of the price hike is the incessant increment in price by private depot owners. A litre of fuel is being sold to us at the rate of N210 and N214 per litre. When you add transport and logistics, you can imagine what the figure will amount to the NNPC monitors and sells directly to us, availability cannot be guaranteed.”

 

 

Tags: ipmanpump price
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