IPMAN says marketers suspend Dangote refinery petrol loading amid price uncertainty

IPMAN: Marketers suspend petrol loading at Dangote Refinery as price uncertainty grows

The Independent Petroleum Marketers Association of Nigeria (IPMAN) says its members have temporarily suspended the loading of Premium Motor Spirit (PMS), also known as petrol, from the Dangote Refinery following the refinery’s halt in petrol loading operations. The development was disclosed by the Western Zone Chairman of IPMAN, Oyewole Akanni, in an interview with the […] The post IPMAN: Marketers suspend petrol loading at Dangote Refinery as price uncertainty grows appeared first on Vanguard News.

4 hours ago

Marketers Suspend Petrol Loading at Dangote Refinery – IPMAN

The Independent Petroleum Marketers Association of Nigeria (IPMAN) says marketers have temporarily stopped loading petrol at the Dangote refinery.   Oyewole Akanni, zonal chairman of IPMAN, western zone, announced the development in an interview with NAN.   He said the development, propelled by Dangote refinery’s suspension of petrol loading operations at its gantry, has compelled marketers to obtain petrol from private depots at considerably higher prices.   Akanni said uncertainty surrounding petrol prices has caused many marketers to suspend new purchases, resulting in the temporary closure of some filling stations. “The non-availability of fuel at some filling stations and the closure of others are due to fluctuations in the price of lifting fuel from depots,” he said.   “Since Dangote Refinery stopped selling PMS about four days ago, private depot owners have increased their prices.   “Many filling stations that have exhausted their stock are waiting to see whether prices will come down when Dangote refinery resumes sales or increase further.”   Advertisement The IPMAN official said only a limited number of marketers are currently purchasing petrol due to the prevailing uncertainty.   He, however, insisted that there is no fuel shortage and urged motorists and other consumers to avoid panic buying.   “There is no fuel scarcity, members of the public should not panic,” Akanni said.   “Although there is a possibility of an increase in pump price, if the current situation persists.”   Advertisement The zonal chairman explained said Dangote refinery neither gave prior notice nor explained the reason for the suspension of sales of petrol to marketers.   Akanni said four truckloads of petrol meant for his stations had remained at the refinery since the suspension of loading.   “I was supposed to have received four truckloads of PMS since four days ago, but that has not happened because the trucks are at the Dangote refinery, which has not been selling,” he said.   “The company is not even loading its own trucks. They are all parked there.”   The IPMAN chairman said the Nigerian National Petroleum Company (NNPC) Limited was also affected because it also sourced products from the Dangote refinery.   On July 16, TheCable reported that fuel importers are set to increase the depot price of petrol from N1,230 per litre to N1,350.

4 hours ago

Fuel price uncertainty forces marketers to halt petrol purchases – IPMAN

Many independent fuel marketers have stopped buying petrol, while some filling stations have temporarily shut down due to uncertainty over fuel prices, the Independent Petroleum Marketers Association of Nigeria (IPMAN) has said. Speaking with the News Agency of Nigeria (NAN) in Ibadan on Sunday, IPMAN Western Zone Chairman, Oyewole Akanni, blamed the situation on the suspension […] Fuel price uncertainty forces marketers to halt petrol purchases – IPMAN

23 hours ago

Fuel Price Uncertainty Forces Marketers to Temporarily Halt Supply — IPMAN

The Independent Petroleum Marketers Association of Nigeria (IPMAN) has revealed that uncertainty over petrol prices has forced many marketers to suspend fresh purchases, leading to the temporary closure of some filling stations.Zonal Chairman of IPMAN (Western Zone), Oyewole Akanni, disclosed this in Ibadan on Sunday, noting that the situation was triggered by the suspension of Premium Motor Spirit (PMS) loading at the Dangote Refinery about four days ago.Akanni explained that marketers have since resorted to private depots, where prices are significantly higher. He said ex-depot prices in Lagos currently range between ₦1,200 and ₦1,220 per litre, excluding transportation costs, with some marketers paying as much as ₦1,250 per litre.“The non-availability of fuel at some filling stations and the closure of others are due to fluctuations in depot prices. Since Dangote Refinery stopped selling PMS, private depot owners have increased their prices. Many filling stations are waiting to see whether prices will drop when Dangote resumes sales,” he said.Despite the disruptions, Akanni insisted there is no fuel scarcity, urging motorists not to panic. However, he warned that pump prices could rise further if the current situation persists.He also lamented that four truckloads of petrol meant for his stations have remained stuck at the refinery since the suspension, adding that even the Nigerian National Petroleum Company Limited (NNPC), which sources products from Dangote, has been affected.Akanni expressed hope that normal supply would resume once the refinery resolves the issue, stressing that the uncertainty created by fluctuating depot prices is the major challenge facing marketers.Meanwhile, many filling stations across Ibadan have remained closed, leaving consumers puzzled about the situation.

1 day ago