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FUEL SCARCITY: We Cannot Be Selling at a Loss – Petroleum Marketers Lament



The Independent Petroleum Marketers Association of Nigeria (IPMAN) has said the current scarcity of fuel in some parts of the country was due to the change in depot price of the commodity.

The National Secretary, Alhaji Umar Gulumbe, said this while addressing newsmen in Birnin Kebbi, Kebbi State, on Tuesday in reaction to the current scarcity experienced in Kebbi and other states of the Federation.

He said traffic congestion and the delay in loading the product on waiting petrol tankers were also responsible for the scarcity of the commodity.

He further explained that retailers who are members get Premium Motor Spirit (PMS) from depots in Lagos for N77.66.

He however, expressed surprise that a new price of N88 has been introduced.

“Initially, it was N77, but we just woke up to hear new price of N88 per litre.

“So you see, it is not possible for our members to sell it at N87 at filling stations, considering other expenses of loading, duration it takes on the way for clearance.

“We cannot be selling at a loss. Apart from that, let me reveal to you that we pay extra money in a separate account before we can get the commodity or else, our tanks will be at stand still for months.”

More so, the Zonal Chairman of IPMAN in charge of the North West, Alhaji Dan Jega, attributed the scarcity to the shortage of the commodity in almost all the depots in the country.

“The fuel is not just there. Out of over 100 depots in the country, only Emirates, Oando and NIPCON have fuel.”