The Independent Petroleum Marketers Association of Nigeria, IPMAN, has urged Nigerians to avoid panic buying, assuring them that there is enough fuel in the country.
IPMAN Publicity Secretary, Mr Ukadike Chinedu, stated this on Sunday in Abuja.
Chinedu commended the Dangote Petroleum Refinery for reducing the price of its Premium Motor Spirit (PMS), also known as petrol, to N899.50 per litre.
According to him, the gesture would help reduce transportation costs for Nigerians ahead of the yuletide holidays.
“You see, that is the beauty of deregulation. Prices are determined by market forces.
“With the Dangote and Federal Government refineries in operation, this will bring about competitive pricing,” Chinedu said.
He urged all IPMAN members to adjust their pumps to the new price to attract more customers.
Media Talk Africa recalls that the Dangote Refinery had reduced its petrol price to N970 per litre in November.
