The Independent Petroleum Marketers Association of Nigeria, IPMAN, says its members can no longer sell premium motor spirit, PMS, at the regulated price due to a hostile business environment.
Through petrol subsidy, the government fixed the price of petrol for
consumers below the international price.
Last week, the southwest zone of IPMAN threatened to direct its
Confirming the development, chairman, Lagos satellite depot, in a media
briefing in Lagos on Monday, said its members can no longer dispense
petrol at filling stations below N180 per litre.
He added that the cost of diesel amid the country’s epileptic electricity
supply situation also affected its members’ running costs.