IPMAN Plans Petrol Price Review as New Products Enter Market

The Independent Petroleum Marketers Association of Nigeria has announced plans to review petrol pump prices at filling stations across the Federal Capital Territory in the coming days.

IPMAN National Publicity Secretary, Chinedu Ukadike, disclosed this in an interview with the News Agency of Nigeria in Abuja on Thursday.

Ukadike said marketers were preparing to adjust their prices and sales strategies as new petrol products begin arriving in the market.

He, however, said the exact timing remained uncertain because marketers had yet to receive a definite date for the arrival of the products.

According to him, marketers are expected to respond quickly once the new products begin arriving, with price adjustments and changes to product offerings.

He said purchases could begin within days, depending on when the process officially commenced.

Ukadike added that any adjustments would be made in line with existing rules and regulations.

The planned review follows recent increases in the ex-depot price of petrol by the Dangote Refinery, which reportedly moved from N1,165 per litre to N1,185, N1,200 and N1,265 within one week.

The increases have already been reflected in petrol pump prices across several filling stations in the FCT, prompting concerns among motorists.

Some motorists have called on the Federal Government to intervene and take measures to stabilise petrol prices.