Bayelsans last week woke to discover that the pump price of petrol rose from between N142 and N145 to N160 per litre in most filling station in the state, prompting an outcry from motorists and residents.
Not satisfied with the decision of Independent Marketers and major marketers in the state, head of operations, Department of Petroleum Resources Ibinabo Jack, after a meeting with the marketers and some selected journalists warned that the abrupt increase in price was not justifiable as it was not approved by any regulatory body.
He consequently urged them to immediately revert to the original price of N145 per littre, or be sanctioned, as they have no reason to increase the price
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 naira for PMS. We frown at that and condemn it.
“The sudden rise in pump price is not advised and not welcome by DPR.
“DPR have not noticed any form of price increase and there is no directives for fuel pump increase, the pump price still remain at N145 per littre.
“From now after this briefing with the marketers, the DPR will not hesitate impose stringent penalties upon anyone found selling above the pump price.
“PMS at the depot as at the beginning of the week was N133, and so we are saying that marketers have no reason to say they have written to the authority or that they were granted by someone to sell above the pump price approved by the Petroleum Products Regulatory Agency (PPRA).”
In his response, the Bayelsa state Chairman of the Independent Petroleum Marketers Association of Nigeria (IPMAN), Erefemota Peters, said the increase was owing to price increase at the depots.
He said marketers in Bayelsa have to source products from the Warri and Port Harcourt refineries at about N142 and considering the transport cost, there was no way the marketers in the state can sell at the government price.
