The Independent Petroleum Marketers Association of Nigeria (IPMAN) has announced that filling stations across the Federal Capital Territory will begin reviewing petrol pump prices in the coming days.
National Publicity Secretary of IPMAN, Chinedu Ukadike, disclosed this in an interview with the News Agency of Nigeria in Abuja on Thursday.
Ukadike explained that marketers are preparing to adjust their prices and sales strategies as new petrol products enter the market. However, he noted that the exact timing remains uncertain because marketers have not yet received a definite date for the arrival of the products.
“Once the new products begin arriving, marketers are expected to respond quickly by reviewing their prices and updating their product offerings.
“After this process, when we make purchases tomorrow or the day after tomorrow, as soon as it starts, we will adjust our prices and begin making the new products available to consumers. The purchases can begin in a few days, depending on when the process officially commences,” he said.
Ukadike added that the price adjustments would be carried out in line with existing rules and regulations.
The development follows recent increases by Dangote Refinery, which raised its gantry (ex-depot) price from N1,165 per litre to N1,185, N1,200, and N1,265 within the past week.
These increases have already been reflected in petrol pump prices at filling stations across the FCT.
Many motorists have expressed concern over the rising prices and called on the Federal Government to intervene and stabilise fuel costs.