The Independent Petroleum Marketers Association of Nigeria (IPMAN) has advised Nigerians to refrain from panic buying, assuring the public that there is an adequate fuel supply nationwide.
IPMAN Publicity Secretary, Mr. Ukadike Chinedu, made this statement on Sunday in Abuja. He praised the Dangote Petroleum Refinery for lowering the price of Premium Motor Spirit (PMS), commonly known as petrol, to N899.50 per litre. According to him, this initiative is expected to ease transportation costs for Nigerians as the Yuletide season approaches.
” You see, that is the beauty of deregulation. Prices are determined by market forces.
” With the Dangote and Federal Government refineries by the corner, this will bring competitive prices,” Chinedu said.
He urged all IPMAN members to adjust their pump to the new pump price to attract more customers.
“We have started ordering on the new price, and even some of our members have already started adjusting their pumps lower to be able to have faster sales.
“If your price is higher, nobody will buy from you.
“You will even find out now that those queues that you normally see in NNPC filling stations have all reduced because most marketers are almost selling the same thing with them,” he said.
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