The Independent Petroleum Marketers Association, IPMAN, Kano Branch, has ordered its members across the state to adjust to the new petrol pump price tag N123.5 to N143.8 per litre in their respective filling stations.
DAILY NIGERIAN reports that the Petroleum Products Pricing Regulatory Agency, PPPRA had on Wednesday released a circular, advising the petroleum marketers to adjust the pump price to N143.80 after a review of the prevailing market fundamentals for the month of June.
Giving the directive while addressing newsmen in Kano, the state Chairman of the IPMAN, Bashir Dan-Mallam, said the association would comply with PPPRA’s directive for the upward review of the pump price of the PMS as contained in their circular.
He also disclosed that even before the increment, private depot operators were already selling the product at a higher price which had caused losses to the members.
He said: “I call on all our members within our branch to immediately change the price of their litres from N123.5 to N143. 80.
“This development came after we received a circular from PPPRA advising us on upward review of the price after it reviewed the market fundamentals for the month of June.
“Let me tell you that we are already at loss because we had been buying the product at higher price from private depot operators,” he lamented.
Mr Dan-Mallam, therefore, called on the general public not to panic as the association was up-and-doing to ensure steady fuel supply during and beyond COVID-19 lockdown.