DPR Warns Depot Operators Against Bulk-Selling, Price Hike

The Department of Petroleum Resources (DPR) has warned oil depot owners at Calabar tank farms to desist from selling petroleum products to bulk buyers and hiking prices of the products.
Operations Controller of DPR in Cross River, Mr Bassey Nkanga, gave the warning on Tuesday in Calabar yesterday at a meeting with depot owners and Independent Petroleum Marketers Association of Nigeria (IPMAN).
Nkanga said that any depot owner caught selling a litre of fuel above regulated price of N133.28 ex-depot price would be sanctioned.
He told depot owners that the Federal Government had increased the supply of petrol to all depots across the country to ease scarcity of the product.
According to him, the purpose of this meeting is to inform depot owners of the directive which says that they should not sell above N133.28 ex-depot price to marketers.
“Depot owners should not sell the product to non-licensed filling stations or bulk buyers because anyone caught will pay a fine of N10 million.
“Any depot that is caught selling above the ex-depot price of N133.28 kobo per litre will also pay a fine of N10 million while those selling to an unlicensed filling station will pay a fine of N200 per litre for the entire product,” he said.