The Independent Petroleum Marketers Association of Nigeria (IPMAN) has attributed the temporary closure of several filling stations to uncertainty surrounding petrol prices following the suspension of Premium Motor Spirit (PMS) loading at the Dangote Refinery.
Speaking on the development, IPMAN Western Zone Chairman, Chief Oyewole Akanni, said the refinery halted PMS loading about four days ago without prior notice, forcing marketers to source products from private depots at significantly higher prices.
According to him, the cheapest ex-depot price in Lagos now ranges between N1,200 and N1,220 per litre, excluding transportation costs, while marketers who purchased fuel on Friday paid between N1,210 and N1,220 per litre.
Akanni explained that the sudden price fluctuations have compelled many marketers to suspend fresh purchases, preferring to wait for clarity on market prices before restocking.
“The non-availability of fuel at some filling stations and the closure of others are due to fluctuations in the cost of lifting fuel from depots,” he said.
“Since Dangote Refinery stopped selling PMS about four days ago, private depot owners have increased their prices.
“Many filling stations that have exhausted their stock are waiting to see whether prices will drop when the refinery resumes sales or rise further. Only a few marketers are buying products because of the prevailing uncertainty.”
Despite the situation, Akanni insisted there was no fuel scarcity and advised motorists against panic buying.
“There is no fuel scarcity. Members of the public should remain calm and avoid panic buying. However, if the current situation persists, there is a possibility of an increase in pump prices,” he said.
He disclosed that Dangote Refinery neither informed marketers in advance nor explained the reason for suspending PMS sales.
Akanni revealed that four truckloads of petrol meant for his filling stations had remained stranded at the refinery since the suspension.
“I was supposed to receive four truckloads of PMS four days ago, but the trucks are still at the Dangote Refinery because loading has stopped. The company is not even loading its own trucks. They are all parked there,” he said.
He added that the Nigerian National Petroleum Company Limited (NNPC Ltd) had also been affected because it sources products from the Dangote Refinery.
According to him, some private depots are now selling PMS for as much as N1,250 per litre, while marketers can still obtain supplies from Nipco and Aiteo at around N1,200 per litre.
“The major challenge is the constant fluctuation in depot prices, which has created uncertainty in the downstream market,” Akanni said, expressing optimism that normal fuel supply would resume once operations at the Dangote Refinery return to normal.
Meanwhile, several filling stations across the Ibadan metropolis remained closed on Sunday, leaving motorists and residents uncertain about the cause of the disruption.
(The Sun)
