195 Pump Price: Showdown looms as fuel marketers plan lockdown, Monday

Written by on February 6, 2023

Independent marketers of Premium Motor Spirit, popularly called petrol, plan a lockdown on their operations beginning Monday once the government starts enforcing the N195/litre pump price.

The Punch newspaper gathered on Saturday that the Nigerian National Petroleum Company Limited, Major Oil Marketers Association of Nigeria, Depot and Petroleum Products Marketers Association of Nigeria, Independent Petroleum Marketers Association of Nigeria, security agencies and the downstream regulator had all agreed that petrol is sold at N195/litre.

Oil marketers said the agreement was reached at a meeting in Abuja on Tuesday, as participants resolved that beginning from Monday, February 6, 2023, the pump price of petrol should not exceed N195/litre, a development which dealers, particularly independent marketers, described as tough due to the high ex-depot price of the commodity.

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