The Independent Petroleum Marketers Association of Nigeria (IPMAN) has announced plans to reduce the pump price of Premium Motor Spirit (PMS) starting Monday, in response to the recent slash in ex-depot prices by Dangote Refinery.
National President of IPMAN, Abubakar Maigandi, disclosed the development in an interview with DAILY POST on Friday, noting that members of the association are aligning with the new pricing structure introduced by the 650,000 barrels-per-day Dangote Refinery.
Dangote Refinery on Thursday reduced its ex-depot petrol price from N840 to N820 per litre, a move expected to ease the burden on consumers amid nationwide fuel price concerns.
Maigandi said IPMAN will convene on Monday to finalize and announce a fresh pump price reflecting the latest adjustments.
“Our members will also reduce prices in line with the new ex-depot rate. We will announce a new fuel price on Monday,” he stated.
