Fuel price may drop over arrival of petrol vessels at Port

Independent Petroleum Marketers Association of Nigeria, IPMAN, has said that the pump price of Premium Motor Spirit, known as petrol, may drop in the coming days following the availability of the products as a result of the massive imports of PMS by the Nigerian National Petroleum Company.

Ukadike Chinedu, the National Public Relations officer of IPMAN, disclosed this on Saturday.

“Once the products start hitting filling stations, fuel price will reduce because the recent high cost was due to supply drop,” he said.

The development comes as the Nigerian Port Authority confirmed that 18 ships with fuel and other items had arrived at Lagos port.

Two days ago, IPMAN and NNPCL clashed over the reason for the re-emergence of fuel queues in some parts of the country, including Abuja, Nasarawa and Niger.

While IPMAN blamed the scarcity on fuel supply shortage, NNPCL said it is due to a ‘price war’.