IPMAN mandates members to dispense PMS at retail price of N162

 

 

Chinazor Megbolu    |   

 

Following the Federal Government  increase of  ex-depot price of Premium Motor Spirit (PMS) to N151.56 per litre, the Independent Petroleum Marketers Association of Nigeria (IPMAN) has mandated its members in the Southwest region of the country to sell the product at a retail price of N162 per litre.

 

The southwest Zonal Chairman of IPMAN, Alhaji ‘Dele Tajudeen told journalists in Abeokuta, Ogun State few hours after the Federal Government increased the depot price to N151.56 per litre. 

 

He hinted that his members would be left with no other option than to dispense the product at a price of N162.

 

Tajudeen also noted that since the federal government decided to fix the price of the product at N151. 56k, IPMAN has no choice than to sell at N162 to be able to meet up with the overhead cost.

 

Tajudeen buttressed that IPMAN members would 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.

 

Tajudeen added that by the time members finish paying all these levies, the cost of discharging petroleum products at filling stations would have risen to N160, hence dispensing the product at N162 to enable IPMAN members to be able to pay the staff bills and the stations’ gains