The Independent Petroleum Marketers Association of Nigeria (IPMAN), has threatened to withdraw their service over incessant increment on the price of premium motor spirit in the Eastern part of the country.

The marketers in a statement today lamented that the private depots are the cause of the hike in the price, stressing that they are buying from them at the cost of N185:00 per liter, adding that after other expenses the price would increase to N200 per litre.

The marketers regretted that even at N200 per liter, their business could not thrive considering the high cost of diesel to power the station and the exploitation from private tank depot owners and NUPENG.

They implored the federal government to revive all NNPC depots within the Eastern zone to enable them to get premium motor spirit at a regulated price.

They sought the intervention of the Nigerian Labour Congress (NLC) to appeal with NUPENG to reduce the loading fee.

They added:”It is no longer news that premium motor spirit, known as petrol is sold at N200 per litre in the Eastern part of Nigeria, including Portharcourt, Enugu, Owerri, Awka, Uyo, Cross River, Aba, Yenagoa, Makurdi, Lokoja.The real cause of hike in price is the incessant increment in price of premium spirit from private depot owners. A litre of fuel is being sold to us at the rate of N185 per litre.

“When you add transport and logistics including the exploitation by NUPENG in the name of union fee which is over One Hundred and twenty thousand Naira, N120,000, per truck, the price will be more than N200 per liter. Even at N200 per litre, considering the high cost of diesel to power the station and the exploitation from private tank depot owners and NUPENG, our business cannot thrive. Our various associations have met, and we have resolved to withdraw our services.

“Hence, we cannot cope with the harsh environment of doing business, caused by private depot owners and NUPENG. We’re calling on the federal government to revive our various NNPC depots within the Eastern zone to enable us to get premium motor spirit at a regulated price. We are also calling on the Nigeria Labour Congress and the management of NNPC to please appeal to the leadership of NUPENG to lessen our burden by reducing the loading fee”.