IPMAN Plans Petrol Price Review As FCT Pump Prices Face Changes

Fuel marketers in the Federal Capital Territory are preparing to review pump prices, with IPMAN saying filling stations may adjust their prices in the coming days.

The change is expected to depend on when new petrol products reach marketers and how stations respond to depot prices, supply costs and competition for customers.

Chinedu Ukadike, IPMAN’s national publicity secretary, said marketers were getting ready to review prices and sales plans once the new products enter the market. The reports said the timing was still uncertain because marketers had not received a definite arrival date.

Punch reported that recent Dangote Refinery ex-depot price increases had already been reflected in pump prices across parts of the FCT. Vanguard reported the same IPMAN position, including the expectation that some filling stations would adjust prices downward within days.

For Abuja motorists, the likely review means prices may keep varying from one station to another. Marketers buy from different depots and carry different logistics costs, so any reduction may not happen everywhere at once.

The petrol market has remained unsettled since pricing became more open, leaving households, transporters and small businesses exposed to frequent changes at the pump.

Sources: Punch, Vanguard