The Independent Petroleum Marketers Association of Nigeria (IPMAN), has declared its members would sell fuel between N195 and N200 in order to stop the long queues currently being experienced in Oyo and Osun states,
The Chairman of IPMAN, Ibadan Depot,Mr. Mutiu Bukola,who disclosed this on Wednesday,s maintained that selling at the rate of N180 is no more sustainable in Oyo and Osun states due to present landing cost of the product.
Currently,there are long queues of commercial buses, cars and private vehicles at the majority of the petroleum stations in Ibadan, the Oyo state capital.
Bukola said that his members would increase the pump price.
He said:”We can not buy petroleum in Lagos again. Whatever we see, they are selling for us at the rate of N178 without transport. The landing cost is now N195. If we buy at the rate of N178, it will take a minimum of N12 to get to Ibadan. If you add N178 to N12 you will know how much it will cost.
“We are struggling to ensure that queues are no more in the petroleum stations. But, we will be selling at the rate of N195 to N200 to avoid long queues in Oyo and Osun states”.