The independent petroleum marketers’ association of Nigeria (IPMAN) says the new pump price of a litre petrol can’t be less than n500, following the adjustment of petrol price at retail outlets by the Nigerian national petrol company limited (NNPCL).
IPAMN deputy president, Zarama Mustapha, in a statement today, explained that the NNPCL being the sole importer of petrol fixes the price for oil marketers across the country.
Mustapha however said, oil marketers will now lift petrol at over n460/litre at fuel depots, add transportation cost and profit margin which will make the new pump price go as high as over n500 per litre.
