,,,, Marketers Predict Drop in Petrol Price.
By Dada Ahmed in Lokoja.
(C) Value chain.
There are strong indications on Wednesday that the pump price of Premium Motor Spirit (PMS), popularly known as petrol, may soon drop across the country, bringing relief to motorists and residents in Kogi State and beyond.
This follows the resumption of petrol loading by members of the Independent Petroleum Marketers Association of Nigeria (IPMAN) at the Dangote Refinery, a move expected to ease the current fuel scarcity and price hike.
The National President of IPMAN, Abubakar Maigandi, confirmed the development in an interview with DAILY POST on Monday, noting that the supply boost from the refinery will help stabilize prices and ensure product availability nationwide.
“Our members have started loading at the Dangote Refinery.
“We are expecting that with the availability of the product, the price will drop a little bit. I can’t say exactly by how much, but there will definitely be a reduction in price,”Maigandi said.
Maigandi added that the refinery’s resumed operations would ease the pressure faced by independent marketers and consumers, especially those in states like Kogi that rely heavily on road transport.
In a similar development, the National President of the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN), Billy Gillis-Harry, expressed optimism that increased supply from local refineries would push petrol prices down and bring relief to Nigerians.
“Whenever there are enough petrol products from Dangote Refinery or from the Depot and Petroleum Products Marketers Association of Nigeria, the country should be wet enough to guarantee affordability,” Gillis-Harry said.
Investigations show that several filling stations, including MRS, Emedeb, Optima, and Bova, have resumed dispensing fuel in some parts of the country.
In recent weeks in Lokoja and its environs,the price of petrol had surged to between ₦940 and ₦950 per litre instead of the previous N890 and N895 per litre in parts of the state,a situation attributed to temporary supply glitches.
Our correspondent recalls that the Vice President of Dangote Industries, Devakumar Edwin, disclosed last week that over 310 million litres of petrol have been scheduled for loading from the refinery, a move expected to improve supply and stabilize prices across the country.
With these developments, motorists in Kogi and other parts of Nigeria may soon heave a sigh of relief as fuel availability improves and prices begin to drop.
Edited by Dada Ahmed.
