ABUJA, Nigeria (VOICE OF NAIJA)-The Independent Petroleum Marketers Association of Nigeria, IPMAN, says uncertainty surrounding petrol prices has forced many marketers to suspend fresh purchases, resulting in the temporary shutdown of some filling stations.
The association’s Western Zone Chairman, Oyewole Akanni, disclosed this in an interview with the News Agency of Nigeria on Sunday in Ibadan.
Akanni attributed the situation to the suspension of Premium Motor Spirit, PMS, loading at the Dangote Refinery about four days ago, a development he said had compelled marketers to source products from private depots at higher prices.
According to him, the lowest ex-depot price in private depots across Lagos currently ranges between ₦1,200 and ₦1,220 per litre, excluding transportation costs.
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He added that marketers who purchased fuel on Friday paid between ₦1,210 and ₦1,220 per litre.
“The non-availability of fuel at some filling stations and the closure of others are due to fluctuations in the price of lifting fuel from depots.
“Since Dangote Refinery stopped selling PMS about four days ago, private depot owners have increased their prices.
“Many filling stations that have exhausted their stock are waiting to see whether prices will come down when Dangote Refinery resumes sales or increase further.
“Only a few marketers are buying products for now because of the uncertainty,” he said.
Despite the situation, Akanni insisted there was no fuel scarcity and urged motorists and other consumers not to panic or engage in panic buying.
“There is no fuel scarcity. Members of the public should not panic.
“Although there is a possibility of an increase in the pump price if the current situation persists,” he said.
The IPMAN official noted that the Dangote Refinery neither gave advance notice nor explained why it suspended PMS sales to marketers.
He revealed that four truckloads of petrol meant for his filling stations had remained at the refinery since the loading suspension began.
“I was supposed to have received four truckloads of PMS four days ago, but that has not happened because the trucks are at the Dangote Refinery, which has not been selling.
“The company is not even loading its own trucks. They are all parked there,” he said.
Akanni also said the Nigerian National Petroleum Company Limited, NNPCL, had been affected because it sources products from the Dangote Refinery.
He added that some private depots are now selling PMS for as much as ₦1,250 per litre, while products are available from Nipco and Aiteo at about ₦1,200 per litre.
“The major issue now is the fluctuation in depot prices, which has created uncertainty in the market,” Akanni said.
He expressed optimism that normal supply would resume once the issues affecting the Dangote Refinery are resolved.
The News Agency of Nigeria reports that several filling stations across the Ibadan metropolis were closed on Sunday, leaving many customers uncertain about the situation.