By Kolawole Olayinka, Abeokuta
Strong indication emerged on Wednesday that the Premium Motor Spirit (PMS) popularly referred to as petroleum may henceforth, be sold for N162 per litre across the South Western region.
This is coming following the increase in the deport loading price of the product by the federal government, which placed a new price regime of the product at N151. 56k.
The Independent Petroleum Marketers Association of Nigeria (IPMAN)’s southwest Zonal Chairman, Alhaji ‘Dele Tajudeen, who spoke with journalists on phone yesterday in Abeokuta, the Ogun state capital said his members would be left with no other option than to dispense the product at a price of N162.
Tajudeen explained that since the federal government has decided and puts the price of the product at N151. 56k, IPMAN has no option than to sell at N162 to be able to meet up with the overhead cost.
Tajudeen said IPMAN members would have to make provision for the cost of diesel to power generator that will power the dispensing machines; pay cost of transporting fuel from the depot to their respective filling stations and also settle their statutory levies with the appropriate regulatory agencies.
He said by the time they finish paying all these levies, cost of discharging fuel at the petroleum filling stations would have shored up to N160, hence dispensing the product at N162 will enable IPMAN members to be able to pay the staff bills and the stations’ gains.