Filling Stations Adjust Fuel Price To N150 Per Litre In Rivers

Filling Stations Adjust Fuel Price To N150 Per Litre In Rivers Most filling stations in Port Harcourt, the Rivers State capital, have commenced the selling of Premium Motor Spirit (PMS) at N150 per litre following recent price adjustments.
The filling stations, including Conoil by Mile 1, Education Bus Stop, Total on Aba Road, Oando and MRS also on Aba Road, and a number of independent marketers, monitored in Port Harcourt, were seen dispensing PMS, also known as petrol, at the new rates with hardly any resistance from fuel consumers.
Some of the fuel attendants, who spoke on condition of anonymity, said that the adjustment in the pump price was due to the directive by their employers.
One of the dealers, who responded to enquiries, simply said that as a member of IPMAN, he was following directives from the leadership of the association.
It would be recalled that the Nigerian National Petroleum Corporation (NNPC) and its subsidiary, the Petroleum Product Pricing Regulatory Agency (PPPRA), last Wednesday, increased the depot price of the product from N133.72k to N138.62k without consulting with other critical stakeholders.
A public affairs analyst in Port Harcourt, Ese Komone, however, said, “It’s not fair. Retailers are always fast with pump price adjustment when the review is upward.
“It’s a different ball game when the review is downward. Beyond that, the adjustment upward is not always commensurate with the situation when crude oil prices drop in the global market.
“Remember prices dropped to its lowest level, near-zero, in the heat of Covid-19. Imagine the insignificant reduction in pump price we had, which didn’t even last, compared to the upward review we now have.”
In the South-West, the Independent Petroleum Marketers Association of Nigeria (IPMAN) chapter, has directed all its members in the zone to increase the dispensing pump price of Premium Motor Spirit (PMS) otherwise known as petroleum from N143 to N150 in their respective filling stations.
The IPMAN South-West Zonal Chairman, Alhaji Dele Tajudeen, who spoke with journalists, yesterday, in Abeokuta, said the directive became necessary in order to avert the planned shutdown of petroleum filling stations across the zone.