Oil Marketers Speak On Plan To Increase Fuel Price To N1200/L

The Independent Petroleum Marketers Association of Nigeria (IPMAN) has addressed claims of a plan to increase petrol price sales.

This comes after speculations ensued that fuel marketers stated that petrol will now cost N1,200 per litre due to the cessation of under-recovery of fuel costs had emerged.

But speaking on Channels Television’s Sunrise Daily, IPMAN’s Public Relations Officer, Okanlawon Olanrewaju, said there is no plan by fuel marketers to increase fuel price.

Olanrewaju stated that there is no basis for the fuel price hike for now, adding that there has no signal from NNPC that the marketers should increase petrol prices.

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The IPMAN official also advised Nigerians against panic buying, stating that the rumour should be ignored.

He said: “As far as the independent marketers are concerned, we don’t have plans or plans to increase fuel pump price.

“There is no basis for that for now. There is no signal from NNPC that we should increase. So, we cannot do that on our own except NNPC comes out and says we are going to increase pump price. On our own, there is nothing like that.

“I want to use this opportunity to appeal to the public to stop panic buying. There is nothing like that (fuel price increment). It is just a rumour.”