Oil marketers fault viral notice on increase in price of PMS

Oil marketers, on Tuesday, faulted a viral message attributed to the Nigerian National Petroleum Company Limited (NNPCL), notifying them of an approved increase in ex-depot and retail prices of Premium Motor Spirit (PMS) alternatively known as petrol.

This is coming despite a noticeable increase in the pump price of the product in filling stations across the country.

The terse message in circulation read: “Greetings, This is to inform you that NNPC Ltd has approved an upward review of PMS pump price from N165/Ltr to N169-N184/Ltr depending on the zones.

“You are hereby directed to change your PMS price on pumps and Totems to the new price effective 19/07/2022. Thank you.”

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• Oil marketers fault viral notice on increase in price of PMS
• Oil marketers fault viral notice on increase in price of PMS

The message was also accompanied by an unsigned price template stating different price adjustments for each zone and depot.

Efforts to reach the NNPCL Spokesperson, Garba Deen Muhammad to react to the development as of the time of filing this report proved abortive as he could not be reached.

However, when contacted, the Independent Petroleum Marketers Association of Nigeria’s (IPMAN) Spokesperson, Mr Chinedu Ukadike faulted the message as the mode of dissemination was not of the NNPC.

He said the company would usually send radio messages to their depots and private depots informing marketers of changes in buying price and selling price.

Ukadike also pointed out that contrary to the circulating price template, NNPC operates equalisation aimed at ensuring price uniformity across the country.

His words: “NNPC’s method of sending messages is not that way. They usually send their radio messages to their depots and PDOs informing marketers of changes in buying prices and selling prices.

“I have not also seen where NPC differentiates price from the fuel bought in Warri Depot to the one bought in Lagos.
I also know that the regime of NNPC is based on equalisation which is to put petrol at the same price everywhere. I also know that NNPC will deny that. Maybe they are trying to test grounds.”

Meanwhile, in the last few months, the country has had to battle recurrent scarcity of products across the country.

But checks by Tribune Online showed that although fuel queues have subsided, PMS is now sold between N180 to N220/Litre.

Also, despite current realities, the NNPC had at various times debunked reports of alleged increase in price of PMS.