Why independent marketers sell fuel above N165 per litre— IPMAN

As the Federal Government continues efforts to resolve the energy crisis facing the country, independent marketers have blamed the exorbitant cost of purchasing petrol at privately-owned depots for their inability to sell at government-approved price of N162-N165 per litre.

Their claim came a day after President Muhammadu Buhari apologised for the on-going petrol shortage across the country and poor power supply from the national grid.

Queues at filling stations in and around Abuja remained lengthy when Vanguard visited some outlets at the city centre and Karu area, yesterday.

Speaking to Vanguard in a telephone interview, the Public Relations Officer of Independent Petroleum Marketers Association of Nigeria, IPMAN, Chinedu Ukadike, said most independent marketers have had to source their products from the private depots, which sold far above government approved ex-depot price of N143 per litre.

Hope for lower price as PHR depot gets supply

Ukadike, however, raised hope that the situation would improve in the coming days as the Port Harcourt Refinery depot has just received product from the NNPC Limited to service the eastern part of the country.

He said: “The Port Harcourt Refinery depot has received product but they haven’t started loading. Hopefully they will begin loading later today (yesterday) or tomorrow.

“The queues come and go (in the East) but the problem is that the pump price is high, between N200 and N220 per litre. This is because the marketers get their supply from private depots.

“Currently, the PPMC is giving preference to Abuja and so most of the loadings are given to the big marketers and major marketers.

“These marketers are able to sell at N165 because they get the product at N143.20 per litre. The independent marketers buy at N175-N180 and so they have to sell at N200 and above.”