The President of the Independent Petroleum Marketers Association of Nigeria (IPMAN), Chinedu Okoronkwo, said on Friday some filling stations in Lagos refused to sell petrol because of the uncertainty associated with the product’s new price regime.
The Petroleum Products Marketing Company (PPMC) had earlier on Friday announced an increase in the ex-depot price of petrol to N155.17 per litre.
The development forced IPMAN to direct its members to start selling the product from a price range of N168 per litre to N171 per litre.
In many parts of Lagos, particularly in Ikeja, Iyana-Ipaja and Abule-Egba areas of the state, only a few filling stations were still selling petrol at the old pump price of N159 per litre.
Others, especially those owned by independent marketers, were shut down thereby creating fear of fuel scarcity among motorists and residents of the areas.
However, in a chat with journalists, the IPMAN chief warned Nigerians against panic buying of the product.
He said: “We buy from them and we heard that there is a new ex-depot price. Now people will like to know whether that is true from the source so that they will not sell at a loss.
“So the marketers are waiting for clarification from PPMC because a lot of people were not privy to have seen the memo. Hopefully, it will be resolved soon and everybody will start selling.’’
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