DPR warns Erring Oil Marketers Flouting Orders on New Pump Price

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The Department of Petroleum Resources (DPR) has warned against flouting of the new pump price of Premium Motor Spirit (PMS) also called petrol by oil marketers.

It a terse statement yesterday, the petroleum industry regulator warned marketers of the dire consequences of selling above the new price.

But the Independent Petroleum Marketers Association of Nigeria (IPMAN) in a quick reaction said the DPR should give its members a little time to comply.

National president of the association Elder Chinedu Okoronkwo while speaking to our correspondent on telephone said his members still have old stock and should therefore be given a little more time to clear the stock before they can revert to the new price.

“Compliance is inevitable, we are working with authorities to ensure regular supply of products across the country.

We only seek the understanding of the DPR to allow some of our members clear their old stock” Okoronkwo appealed.

For avoidance of doubt the DPR in a statement obtained by Leadership said, “following the pronouncement of the new approved pump price of premium motor spirit (otherwise known as petrol) by the federal government the Department of Petroleum Resources wishes to inform all marketers and the general public that it has commenced the enforcement of the price regime in line with its mandate”.

The statement also said that “Consequently, marketers are advised to comply with the new pump prices as enunciated in PPPRA pricing template”.

It reminded the marketers that official pump price and ex-depot price of PMS for oil marketing companies shall be N86.50/litre and N77.00/litre respectively.

Also, official price and ex-depot price of PMS for NNPC shall ne N86.00/litre and N76.50/litre respectively, the regulator said.

It therefore warned that depot owners and retailers must ensure strict compliance as appropriate sanctions shall be applied to price manipulators.

Meanwhile checks by Leadership showed non-compliance of the new pump price by some marketers.

Non-compliance is more noticeable among independent marketers especially outside Lagos.

For instance NIPCO filling station along Benin/Asaba express way displayed N86 per litre but attendants were selling for N130 per litre.

In Anambra state, Independent marketers were selling at N130 per litre.

Many of the outlets displayed N130 per litre on paper pasted on the pump.

Our correspondent bought PMS at NIPCO along Benin/Asaba express way at N130 per litre.

When contacted, spokesman of NIPCO Biodun Lawal expressed surprise at such practice.

Lawal said, “on Saturday we issued a statement to all our outlets instructing them to sell at new pump price. In fact I will take up this report officially”.