Pump Price Inflation: DPR Seals Two Depots In Calabar

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The Department of Petro
leum Resources (DPR) has sealed two depots in Calabar for allegedly selling PMS above N77.66 depot price.
Controller Operations in-charge of Akwa Ibom and Cross River, Mr Asuquo Antai, who announced this in Eket, Akwa Ibom, said the depots’ import payments for PMS were suspended for three months.
Antai said the depots were in Calabar Trade Free Zone.
Antai said that the affected depots would pay a fine of N10 million each at the expiration of their suspension.
“Any products diverted by them with the effect from the date of the sealing of their depots will attract N200 per litre for diversion.
“The position of the department goes a long way to demonstrate the willingness of the department to ensure that products at the retail outlets are sold at N87 per litre by major and independent marketers,’’ Antai said.
He advised marketers to buy products at the depots at N77.66 ex-depot price.
He said the products available in the two depots would be sold out to licensed marketers at ex-depots price.
The controller also advised the marketers to get back the money that was earlier paid to the depots.
“All marketers that had earlier paid for the products at these depots are advised to go back and retrieve monies paid to the depots as they will not be given products because they have paid above ex-depots price.
“If they have given products, they will not be able to sell at the approved retail price of N87 per litre,’’ he said.
He said that ministerial task force had commenced patrolling and enforcing the price of PMS at the retail outlets across its area of operations.