By Our Reporter
The Independent Petroleum Marketers Association of Nigeria has directed retailers to sell Premium Motor Spirit (petrol) at N170 per litre. This is sequel to the circular released by the Pipeline and Product Marketing Company (PPMC) on Thursday advising the petroleum marketers to sell petrol within the range of N168 per litre to N170 per litre after a review of the prevailing market fundamentals for the month of November 2020 with effect from Friday, 13th November 2020.
IPMAN National Vice President, Alhaji Abubakar Maigandi, said: “The PPPMC last midnight told us that the ex-depot price is now N155. 17 per litre. We have directed our marketers to sell for N170 per litre.”
“ We call on all our members to immediately change the price of their litres from N160 per litre to between N168 and N170 per litre.
”This development came after we received a circular from PPMC, advising us on the upward review of the price after it reviewed the market fundamentals gorgeous the month of November 2020.
He added that the price will still depend on the forces of demand and supply.
