The Independent Petroleum Marketers Association of Nigeria (IPMAN), has assured Nigerians that there are enough fuel supplies in the country to meet citizens’ energy needs this yuletide and going forward, urging them to, therefore, avoid panic buying.
Chinedu Ukadike,, IPMAN Publicity Secretary, who gave this information yesterday – Sunday, December 22 – commended the Dangote Petroleum Refinery for reducing the price of its Premium Motor Spirit (PMS), also known as petrol, to N899.50k per litre.
He said the gesture would help to reduce transport cost for Nigerians ahead of 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 said.
He urged all IPMAN members to adjust their pump to the new pump price to attract more customers.
“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 at NNPC filling stations have all reduced, because most marketers are selling at almost the same price as the mega stations,” he said.
This the second time Dangote Refinery is lowering its pump price in a month. The refining behemoth first lowered its petrol price to N970 per litre in November (last).
