IPMAN guarantees enough fuel supply, now sells at N935 per litre
Private fuel marketers have given an assurance of having enough stock for sale throughout the festive season and beyond, and urged motorists and other consumers to avoid panic buying that may distort the market and skew up price, besides causing tragedy.
Independent Petroleum Marketers Association of Nigeria (IPMAN) Publicity Secretary Ukadike Chinedu made the plea in Abuja, and commended Dangote Refinery for reducing its price to N899.50 per litre to help mitigate economic hardship.
He said the slash would reduce transport cost across the yuletide holidays.
“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 enthused, per the News Agency of Nigeria Nigeria (NAN).
He urged all IPMAN members to adjust their pump to the new price to attract more customers.
Chinedu added: “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.”
Dangote Refinery has reduced its petrol lifting price to N899.50 per litre and IPMAN promised to lower its pump price to N935 nationwide from today.
–NAN
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