The Bayelsa State Chairman of the Independent Petroleum Marketers Association of Nigeria, IPMAN, Erefemota Peters, said has defended the increase in the price of Premium Motor Spirit, PMS, saying, it was caused by hike in depot price.
He said marketers in Bayelsa sourced products from the Warri and Port Harcourt refineries at about prices above N142.
According to reports, he said after including transport cost, there was no way the marketers in the state could sell at the government price.
However, the Department of Petroleum Resources, DPR, has vowed to shut down filling stations in Bayelsa State for selling Premium Motor Spirit, PMS, at above N160 per litre.
The department was disturbed that independent petroleum marketers in Yenagoa, the state capital, suddenly increased their pump price of fuel from the regulated price of N145 to N160 per litre.
Speaking after an emergency meeting with independent marketers in the state, on Tuesday, DPR’s Head of Operations, Ibinabo Jack, derided them for the sudden increase in price.
He said it was not justifiable as it was never supported by any regulatory body and warned that the affected stations would be closed down.
He asked them to immediately revert to the original price of N145 per littre, or be sanctioned, insisting that they had no reason to increase the price of the product.
He said: “I personally went round and discovered that all the filling stations were selling above the pump price. They were selling at the rate of N160 for PMS. We frown at that and condemn it. The sudden rise in pump price is not welcome by DPR.
“DPR has not noticed any form of price increase and there is no directives for fuel pump increase. The pump price still remains at N145 per littre. From now after this briefing with the marketers, the DPR will not hesitate to impose stringent penalties upon anyone found selling above the pump price.
“PMS at the depot as at the beginning of the week still remains N133, and so we are saying that marketers have no reason to say they have written to the authority or that they were granted approval by someone to sell above the pump price approved by the Petroleum Products Regulatory Agency, PPRA.”