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The Independent Petroleum Marketers Association of Nigeria (IPMAN) has expressed worry at looming acute petroleum products scarcity in the country.
Mr Joseph Obele, the Chairman, Rivers State chapter of the union, said this in a statement on Wednesday in Port Harcourt.
He said that the impending shortfalls in pricing and availability might last longer than expected.
According to him, before now, the directive of the federal government has been that the buying rate for independent marketers should be the official deport price of N148.77.
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He noted that it was only when marketers bought at a stipulated rate of N148.77 that they were able to sell at N165 endorsed by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA).
“But if we now buy at the current rate of N163, there’s no way we can sell at N165 with just N2 margin.
“It is, therefore, anticipated that marketers buying at N163 from the depots will sell between N180 to N190 respectively,” he said.
(NAN)
