Because many Nigerians reacted to the increase in the price of petrol by some oil marketers last week, the umbrella body of the oil markers known as IPMAN (independent Petrol Markets Association) has ordered its members to revert back to the old price.
This was disclosed by Alhaji Suleiman Yakubu, the Publicity Secretary of IPMAN during an interview to news men. Alhaji Yakubu directed IPMAN members to sell petrol at N143 per litre, pending the new directive by the Petroleum Products Pricing Regulatory Agency (PPPRA).
NAN reports that NNPC and Petroleum Products Marketing Company (PPMC) had fixed the ex-depot price of premium motor spirit (PMS), known as petrol, at N138.62 per litre.
The PPMC Manager, Sales, Mohammed Bello, had disclosed the new price in a statement in Abuja on Tuesday.
Bello said that that the new price would come into effect from Aug. 5.