Petrol Price May Rise Again as Abuja Marketers Prepare to Review Pump Prices

Petrol prices across filling stations in the Federal Capital Territory may be reviewed again in the coming days as independent marketers prepare for the arrival of new petrol products.

The Independent Petroleum Marketers Association of Nigeria (IPMAN) said its members are getting ready to adjust pump prices and sales strategies once the new products begin entering the market.

IPMAN National Publicity Secretary, Chinedu Ukadike, disclosed this in an interview with the News Agency of Nigeria in Abuja on Thursday.

Ukadike said the exact timing of the review remained uncertain because marketers had not yet received a definite date for when the new products would arrive.

He explained that once the products become available, marketers would respond by reviewing their prices and making the new supplies available to consumers.

“The purchases can begin in few days, depending on when the process officially commences,” Ukadike said.

He added that any adjustments would be made in line with existing rules and regulations governing petroleum product sales.

The development follows recent increases in the ex-depot price of petrol by Dangote Refinery. The refinery reportedly raised its gantry price from N1,165 per litre to N1,185, N1,200 and N1,265 within the past week.

The changes have already been reflected in pump prices at some filling stations across the FCT, adding to concerns among motorists facing higher fuel costs.

Many motorists have called on the Federal Government to intervene and take steps to stabilise petrol prices as further adjustments loom.