The Independent Petroleum Marketers Association of Nigeria (IPMAN) has said its members can no longer sell Premium Motor Spirit (PMS) at N180 per litre in Oyo and Osun states.
IPMAN said it is now selling at N195-N200/litre.
IPMAN Chairman of Ibadan Depot, which covers Oyo and Osun states, Mr. Mutiu Bukola, said this while speaking on Wednesday, according to DailyPost.
A visit to some parts of Ibadan on Wednesday confirmed that petroleum stations in Ibadan are currently witnessing long queues.
It was learnt that the long queues was as a result of the rumour of scarcity of petrol across the country.
IPMAN has however said that its members would increase the pump price.
It stated that this decision was necessary so as to avoid the long queues in Oyo and Osun.
Bukola explained that it is not possible for members of the association to sell at the old price.
He said that this is due to the increment of the landing cost and the cost of transportation.
He said, “We cant buy petroleum in Lagos again. Whatever we see, they are selling for us at the rate of N178 without transport.
“The landing cost is now N195. If we buy at the rate of N178, it will take a minimum of N12 to get to Ibadan. If you add N178 to N12 you will know how much it will be.
“We are struggling to ensure that queues are no more in the petroleum stations.
“But, we will be selling at the rate of N195 to N200 to avoid long queues in Oyo and Osun states.”