DPR moves to stop the increased price of fuel at N160 and above in Bayelsa

04/12/2019

Posted by: Chris Odogwu

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DPR is putting an end to the sale of fuel for N160 and above in Bayelsa State. It urged marketers to go back to the N145 standard rate or face sanctions! Read the gist here!

The Department of Petroleum Resources (DPR) is set to put an end to the price increase of Premium Motor Spirit (PMS) from the usual N145 to N160 and above in Yenagoa the capital city of Bayelsa State.

Residents of the state have been forced to buy fuel at the increased rate being sold by most filling stations in the city since last week.

In protecting the interest of citizens of the country, the DPR held a meeting with major marketers of petroleum in the state to address the troubling event on Tuesday. At the end of the meeting, Head of Operations DPR, Ibinabo Jack, stated that the sudden increase in the pump price was unwarranted, and did not have the backing of any regulatory agency. Hence, it would be kicked against sternly.

fuel-scarcity-in-Nigeria

Whenever there's a subtle sign of fuel scarcity, dealers raise fuel price, sometimes without approval from authorities

Speaking to Journalists who were present at the meeting, Ibinabo stated that:

“I personally went round and discovered that all the filling stations were selling above the pump price. They were selling at the rate of N160 naira for PMS. We frown at that and condemn it.

"The sudden rise in pump price is not advised and not welcome by DPR. DPR has not noticed any form of price increase and there is no directive for fuel pump increase; the pump price still remains N145 per liter.

"From now, after this briefing with the marketers, the DPR will not hesitate to impose stringent penalties upon anyone found selling above the pump price. PMS at the depot as of the beginning of the week still remains N133, and so we are saying that marketers have no reason to say they have written to the authorities or that they were granted by someone to sell above the pump price approved by the Petroleum Products Regulatory Agency (PPRA)."

In their defense, Erefemota Peters, Bayelsa state Chairman of the Independent Petroleum Marketers Association of Nigeria (IPMAN) said the increase at depots gave rise to the increase at various filling stations. According to him, marketers sourced for products at above N142 at the Port Harcourt and Warri refineries. Hence, they could not sell at the standard government price.

>>> Visit Naijauto.com for more stories in the transportation sector.

Chris Odogwu
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Chris Odogwu

Chris Odogwu

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Chris Odogwu is a Content Writer and Journalist. He holds a bachelor's degree in Mass Communication from University of Jos and a master's degree in Mass Communication from University of Lagos. His works have been published in top local and international publications including Forbes, HuffPost, ThriveGlobal, TheNextScoop and Nigeria360 among others. A member of the Nigerian Institute of Public Relations (NIPR), the thrill he gets from writing about exotic cars feels almost the same as riding in them.

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