IPMAN To Increase Fuel Pump Price To N195 In Osun, Oyo Amid Scarcity

 

Yusuf Oketola

THE Independent Petroleum Marketers Association of Nigeria (IPMAN) has said that Premium Motor Spirit (PMS) price would be increased to N195 per litre in Osun and Oyo States due to scarcity.

Mr. Mutiu Bukola, Chairman of IPMAN, Ibadan Depot, which serves Oyo and Osun states, stated this to newsmen on Wednesday.

OSUN DEFENDER gathered that queues have returned to petrol stations in Ibadan amidst panic buying as a result of fuel scarcity rumour across the country.

Bukola said IPMAN members would increase the pump price, stating the decision was necessary so as to avoid the long queues in Osun and Oyo.

He explained that it is not possible for members of the association to sell at the old price due to the increment in the landing cost and the cost of transportation.

He said, “We can’t buy petroleum in Lagos again. Wherever 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.”

IPMAN had in June this year asked marketers across the country to sell petrol at N180 per litre and above.

The union gave this directive on the ground that it was no longer possible to sell at the government’s price of N165 per litre.