The Independent Petroleum Marketers Association of Nigeria (IPMAN) says filling stations across the Federal Capital Territory are preparing to review petrol pump prices as new petroleum products enter the market.
IPMAN National Publicity Secretary, Chinedu Ukadike, disclosed this on Thursday in Abuja in an interview with the News Agency of Nigeria.
Ukadike said the incoming products would trigger adjustments to pump prices and sales strategies, although the exact timing remains uncertain as no definite arrival date has been given.
He said purchases could begin within the next few days, depending on when the process officially commences. Once supplies become available, prices would be adjusted and the new products offered to consumers.
“Once the new products begin arriving, marketers are expected to respond quickly by reviewing their prices and updating their product offerings,” he said.
Ukadike added that the changes would be implemented in line with existing rules and regulations governing petroleum product sales.
The planned review follows a series of petrol price increases by Dangote Refinery, which raised its gantry, or ex-depot, price from N1,165 per litre to N1,185, N1,200 and subsequently N1,265 within the past week, according to NAN.
The increases have since been reflected in pump prices at filling stations across the FCT, adding to concerns among motorists over the rising cost of petrol.
Some motorists have called for Federal Government intervention to help stabilise prices amid the latest round of increases.
The timing of the next pump-price adjustments will ultimately depend on when the new products begin arriving and purchases commence.