Petrol vessels arrival at Port hints Fuel price drop

The Independent Petroleum Marketers Association of Nigeria, IPMAN, has stated that the pump price of Premium Motor Spirit, also known as petrol, may fall in the coming days as a result of the Nigerian National Petroleum Company’s significant imports of PMS.

IPMAN’s National Public Relations Officer, Ukadike Chinedu, said this on Saturday.

“Once the products start hitting filling stations, fuel price will reduce because the recent high cost was due to supply drop,” he told reporters.

The news comes as the Nigerian Port Authority stated that 18 ships carrying fuel and other supplies have landed in Lagos.

IPMAN and NNPCL battled two days earlier over the cause of the re-emergence of fuel queues in several parts of the country, including Abuja, Nasarawa, and Niger.

While IPMAN blamed the shortfall on a lack of fuel supply, NNPCL blamed it on a “price war.”