Chairman of the Independent Petroleum Marketers Association of Nigeria (IPMAN) Rivers State chapter, Dr Joseph Obele, has explained reasons for the increase in pump price in Port Harcourt, the state capital.
Most petrol stations as observed by NatureNews correspondent in Port Harcourt are now selling above N400.
A commuter at a petrol station in Elelenwo axis of Port Harcourt told NatureNews that he bought for 450 naira per litre. Another commuter said he bought petrol for 450 naira at a petrol station along Okopro road.
Also, a motorist who bought at the Nigerian National Petroleum Corporation (NNPC) petrol outlet at Lagos Bus stop, maintained that the station was still selling at the stipulated pump price of 179 naira per litre.
The IPMAN chairman in reaction to this development on yesterday blamed the landing cost of Premium Motor Spirit (PMS) as the cause of the increase.
He said the landing cost of PMS was currently over N500 per litre and it was unsustainable for the government to keep subsidizing the product for Nigerians at N165 per litre.
“There is no uniform buying source for us marketers. Marketers are buying from Lagos, and depot price ranges from 280 to 310 per litre. The only depot that was selling in Rivers State has run out of stock, it’s quite unfortunate that Nigerians are made to experience this,” he added.
Obele in his explanation also expressed hope that the Port Harcourt refinery would salvage the situation after the completion of its rehabilitation first quarter of this year.
