IPMAN says Abuja filling stations will cut petrol prices as new products arrive
The Independent Petroleum Marketers Association of Nigeria (IPMAN) says filling stations across the Federal Capital Territory (FCT) will begin adjusting petrol pump prices downward in the next few days.
National Publicity Secretary Chinedu Ukadike told the News Agency of Nigeria in Abuja on Thursday that marketers were preparing to change pricing and sales strategies once new products enter the market. The arrival of those products, he said, could alter current conditions. Marketers would adjust so that consumers could still buy what they need. He had no firm date for when the cargoes would land; the process would follow existing rules.
“Once the new products begin arriving, marketers are expected to respond quickly by reviewing their prices and updating their product offerings. After this process, when we make purchases tomorrow or the day after tomorrow, as soon as it starts, we will adjust our prices and begin making the new products available to consumers. The purchases can begin in few days, depending on when the process officially commences,” he said.
Dangote Refinery recently raised its gantry, or ex-depot, price from N1,165 a litre to N1,185, then to N1,200 and N1,265 within a week. Those increases have already shown up at pumps in the FCT, and motorists have called on the Federal Government to help stabilise prices.
IPMAN’s message is a timing claim, not a guaranteed number. Pump prices move when stations restock, not when an association speaks. If cheaper or differently priced product actually arrives, stations that buy it can cut what they charge; if the next cargo lands at the latest depot rate, the promised downward adjustment may be small or brief.
For motorists in Abuja the test is simple: whether the figure on the pump falls in the next few days, and whether it stays down after the current batch is sold.
