Fuel shortage looms at depot owners top price by N9 per litre

Vanguard

By Udeme Akpan,  Obas Esiedesa & Prince Okafor

THERE are indications that petrol shortage might emerge as the Private Depots have increased the price of Premium Motor Spirit (PMS) or petrol price to N157 per litre, from N148/litre in different parts of the nation.

Investigation by Vanguard, yesterday, showed that the development has discouraged many marketers, especially the members of Independent Petroleum Marketers Association of Nigeria (IPMAN), who lift 90 per cent of their petrol from the depots, belonging to Depot and Petroleum Products Marketers Association of Nigeria, DAPPMAN members.

In a telephone interview with Vanguard, the National Operations Controller of the Independent Petroleum Marketers Association of Nigeria (IPMAN), Mike Osatuyi, who confirmed the development, said: “We are aware of the development because our members procure about 90 per cent of supplies from DAPPMAN members. We are currently reluctant to lift for now. But very soon, we would be compelled to sell at higher price because we have to recover the costs.”