Home NewsBusiness Fuel Hike: PETROAN Announces Increase In Petroleum Products Price From 160 To 175 Naira Per Liter

Fuel Hike: PETROAN Announces Increase In Petroleum Products Price From 160 To 175 Naira Per Liter

by Anita Ogona

The Petroleum products Retail outlets Owners Association of Nigeria has announced an increase in petrol pump price from 160 to 175 naira per liter.

National President of the Petroleum products Retail outlets Owners Association of Nigeria Dr Billy Gillis-Harry made the announcement at an emergency National Press conference in Port Harcourt.

He said the slight increase of Petrol pump price is as a result of the federal government increase of the cost of depot price to marketers from 157 to 160 naira.

President of the Petroleum products Retail outlets Owners Association of Nigeria Dr Billy Gillis-Harry told journalists that the decision was painstakingly taken so as for marketers to remain in business and avert any sufferings motorists may face as a result of scarcity of Petroleum products.

He said the federal government has been informed of the marketers’ decision on the increase of the pump price.

On his part, the zonal chairman of PETROAN Prince Sunny-Nkpe said the issue of Petroleum products adulteration from the depots is becoming a disturbing concern to marketers in the state.

Prince Sunny-Nkpe said over ten million litres of adulterated Petroleum products from depots in the state have been confiscated by the DPR and the depots shut down already.

Zonal chairman of PETROAN Prince Sunny-Nkpe said the shutting down of such depot supplying adulterated Petroleum products by the DPR is a vindication that filling stations are not responsible for such products retailed to motorists.

Meanwhile the Rivers state Chairman of PETROAN Francis Chilam-Dimkpa has directed petrol stations owners in the state to restock at the new price at the depot and retail at the new pump price of 175 effective today.

He called on its members to avoid sharp practices like hoarding products and selling above the stipulated price.

Our correspondent Precious Ahiakwo who visited some independent petrol stations around town reports that there were no queues and the new price is yet to be effected.

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