The Independent Petroleum Marketers’ Association of Nigeria, IPMAN has directed its members to sell a litre of petrol at 150 naira.

The order is coming following Federal Government’s approval of 138 naira, 62 kobo as the former-depot price for a litre. It was however, gathered that despite the agreement, Private Depot Owners, PDO sell the product to dealers for 139 naira per litre.

The Petroleum Products Pricing Regulatory Agency, PPPRA had on Tuesday announced the new price modulation.

IPMAN’s Vice President Abubakar Maigandi said the Federal Government is yet to come up with a new pump price for this month, noting that since the Nigerian National Petroleum Corporation, NNPC depots sell the product for N138.62 per litre, private depots decided to increase the price marginally to N139 per litre.

Maigandi noted that the market interplay has compelled some of the marketers to peg their pump prices between 148 and 150 naira per litre.