Oil marketers threaten sanctions against depot, petrol stations hiking price of PMS

This comes amid a recent report that some depots and petrol stations were selling the product at an exorbitant price even when the federal government has not officially announced any increment in petrol prices.

Some petrol stations have been reported to sell the product above N300 per litre while others are selling between N230 and N250, an amount which is still above the recommended selling price.

While speaking on the issue, the President, of PETROAN, Billy Gillis-Harry, said the association had noticed the abnormally in prices majorly in Abuja and Lagos and had also revealed that the group had set up a task force to check and sanction filling stations selling PMS at the high prices.

Gillis-Harry, while speaking to the Punch said “We frown at anybody selling so much above the price of what should be adequate. If they accessed the product at a high rate, then we would not sanction them.

“But if they accessed the product from NNPCL and sell it at exorbitant rates of N220, N250, we will sanction you. It is getting very punitive. So our task force now goes around and when we get them we invoke the powers of the NMDPRA over them.”

Speaking further, Gillis-Harry also added that marketers who purchased the product from the Nigerian National Petroleum Company Limited, NNPCL should not sell above N200 per litre. However, he acknowledged that on most occasions, marketers need to see the product to purchase from NNPCL.

“If you bought from NNPCL, you must be duty-bound to sell at a maximum of N200/litre, because NNPC sells at a maximum of N194/litre. So for some independent marketers, it is just N6 more, but the truth is that we are not seeing the product.” He said.

Recall that FG had earlier revealed its position about the price increment of PMS. This was contained in a statement issued by the minister of state, Petroleum, Timipre Sylva where he denied any plans by the FG to increase petrol prices.

“Government will not approve any increase of PMS (price) secretly without due consultations with the relevant stakeholders.

“The President has not directed the Nigerian Midstream and Downstream Petroleum Regulatory Authority or any agency for that matter to increase the price of fuel. This is not the time for any increase in the pump price of PMS,” Sylva had stated recently.