DPR threatens to shut stations selling petrol above approved price

The Department of Petroleum Resources (DPR) has threatened to shut down erring stations and ensure that any marketer who sells petrol above N145/litre government approved price is punished.

Speaking yesterday during a meeting with Independent Marketers Association of Nigeria (IPMAN) and other major marketers in Yenagoa, Bayelsa State, DPR’s Head of Operations, Mr. Ibinabo Jack, said abrupt increase in price was not justifiable as it was not approved by any regulatory body.

He said in Bayelsa last week, the pump price of petrol rose from between N142 and N145 to N160 per litre in most filling stations in the state, thereby prompting an outcry from motorists and residents.

Responding, the state chairman of the Independent Petroleum Marketers Association of Nigeria (IPMAN), Mr. Erefemota Peters, said the increase was due to price increase at the depots.

He said marketers in Bayelsa had to source products from the Warri and Port Harcourt refineries at prices above N142.

SOURCE: dailytrust.com.ng