The Kano state chapter of the Independent Petroleum Marketers Association of Nigeria (IPMAN) has directed its members to sell petrol at N150 per litre.
This directive was contained in a statement issued on Wednesday by Bashir Danmallam, the IPMAN chairman, Kano chapter.
He said that the directive followed the new price review announced by the Petroleum Products Marketing Company (PPMC).
Danmallam added that the directive was also in compliance with the government’s earlier statement that it would review upward or downward the price of the commodity on a monthly basis, depending on the price of crude oil in the international market.
The Petroleum Products Marketing Company [PPMC] had, in a memo signed by its Manager, Mohammed Bello, on Aug. 4, fixed the depot price of premium motor spirit, known as petrol, at N138.62 per litre.
“Please be informed that the management has approved ex-depot price of petroleum products, including premium motor spirit (petrol), at N138.62 per litre,” the memo had said.
Likewise, he said the private depots had also increased their price as they would sell the commodity to their members at N139.5 per litre.
He also asked all members under his jurisdiction to comply with the new price by making sure no one sells above the approved ceiling of N150 per litre. he further assured the public of the availability of petroleum products at all times.
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