In Ogun, lndependent Marketers now to sell petrol at N162 per litre

The Independent Petroleum Marketers Association of Nigeria (IPMAN) has directed its members in the Southwest to sell petrol at N162 per litre.

The directive followed an increase in the depot loading price of the product by the Federal Government which introduced a new price regime of N151. 56k.

The Chairman of IPMAN, Alhaji Dele Tajudeen,  told newsmen in Abeokuta, Ogun state capital, that his members should start selling at the filling stations at N162 per litre.

“Since the Federal Government has decided and put the price of the product at N151. 56k, IPMAN has no option than to sell at N162 to be able to meet up with the overhead cost.

” IPMAN members will have to make provision for the cost of diesel to run generator that will power the dispensing machines, pay the cost of transporting the fuel from the depot to their respective filling stations and also settle their statutory levies with the appropriate regulatory agencies.

“By the time they finish paying all these levies, the cost of discharging fuel at the petroleum filling stations would have shored up to N160, hence dispensing the product at N162 will enable IPMAN members to be able to pay the staff bills and the stations’ gains,” he said.