Energy

IPMAN: Private depot owners planning fuel price hike

The Independent Petroleum Marketers Association of Nigeria, IPMAN has appealed to the Federal Government to stay action on the implementation of the new ex-depot price.

The Kano State branch of the Independent Petroleum Marketers Association of Nigeria (IPMAN) has alerted the federal government of the decision by some unpatriotic private depot owners to increase the price of petrol in order to cause a fuel crisis in the country.

The IPMAN Chairman in the state, Alhaji Bashir Danmallam, made the accusations in a statement in Kano on Friday.

He said some of the private depot owners had increased the price of the commodity from N148 per litre to between N153 and N155 per litre since Friday, last week.

He said the association found it necessary to alert the government so as not to blame its members in the event that they increase the price of the commodity as they would not sell the product at a loss.

“IPMAN is accusing some private depot owners of trying to sabotage the federal government by unilaterally increasing their prices despite the fact that the government has not raised the fuel pump price.

“We are equally calling on the management of the NNPC to investigate the issue as some of the private depot owners have since Friday last week jacked up the price from N148 per litre to between N153 and N155 per litre. We know it’s only the federal government that imports fuel, not private depot owners.

“As I am talking to you now, private depots in Warri, Calabar, Lagos and Oghara have increased their prices. We hope the management of the NNPC will investigate and intervene,” Danmalam said.

He also accused the private depot owners of trying to cause a fuel crisis in the country by closing the depots as the end of the year is fast approaching in order to maximize profit.

He said the association would not fold its arms and allow such unpatriotic private depot owners to engage in unnecessary price increase, while the public are always accusing their members of flagrant increase in fuel prices.

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