FCT Filling Stations Set for Petrol Price Adjustments, Says IPMAN

Motorists in the Federal Capital Territory should brace for potential adjustments in petrol pump prices as the Independent Petroleum Marketers Association of Nigeria (IPMAN) announced impending changes at filling stations within the next few days.

This development was confirmed by Chinedu Ukadike, IPMAN's National Publicity Secretary, during an interview with the News Agency of Nigeria (NAN) on Thursday in Abuja. Ukadike indicated that marketers are currently preparing to revise their pricing structures and sales approaches as fresh consignments of petrol products are expected to arrive in the market.

While a precise date for the arrival of these new products remains unconfirmed, Ukadike stated that the adjustments would commence swiftly once they become available. He elaborated, “Once the new products begin arriving, marketers are expected to respond quickly by reviewing their prices and updating their product offerings. After this process, when we make purchases tomorrow or the day after tomorrow, as soon as it starts, we will adjust our prices and begin making the new products available to consumers. The purchases can begin in few days, depending on when the process officially commences.” He further assured that all forthcoming adjustments would adhere strictly to established rules and regulations.

This impending review follows recent increases in the ex-depot price from the Dangote Refinery. According to NAN, the refinery's gantry price has seen several hikes over the past week, moving from N1,165 per litre to N1,185, then N1,200, and finally N1,265.

These upward adjustments at the refinery have already translated into higher pump prices at various filling stations across the FCT. Consequently, a significant number of motorists have voiced their apprehension regarding the escalating fuel costs, appealing to the Federal Government to intervene and implement measures to stabilize petrol prices.