The selling of Premium Motor Spirit (PMS) at N180 per litre is no longer evident in the states of Oyo and Osun, according to the Independent Petroleum Marketers Association of Nigeria (IPMAN).
This was said in an interview on Wednesday, October 26, 2022 by Mr. Mutiu Bukola, the IPMAN Chairman of the Ibadan Depot, which serves the states of Oyo and Osun.
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In order to minimise the lengthy lines in Oyo and Osun, Bukola indicated that association members are unable to sell at the previous price and that the price rise is therefore required.
He claimed that the increase in the landing cost and the cost of transportation is to blame.
He stated: “We can’t buy petroleum in Lagos again. Whatever we see, they are selling for us at the rate of N178 without transport.
“The landing cost is now N195. If we buy at the rate of N178, it will take a minimum of N12 to get to Ibadan. If you add N178 to N12 you will know how much it will be.
“We are struggling to ensure that queues are no more in the petroleum stations.
“But, we will be selling at the rate of N195 to N200 to avoid long queues in Oyo and Osun states.”
