The Independent Petroleum Marketers Association of Nigeria (IPMAN) has dismissed claims of an impending increase in petrol prices nationwide.
According to IPMAN Chairman, Bashir Salisu Tahir, in an interview with Voice of America (VON), it is market forces that now determine prices since the country now has refineries.
He assured the public that the operation of the refineries will contribute to a reduction in fuel prices.
Tahir also revealed that none of their members had increased the price of petrol across the country.
He said, “The market now determines prices, and there is no truth to the rumors of an increase in petrol prices. While diesel prices have risen recently due to market dynamics, they will naturally fall when market conditions improve.”
Petrol currently sells for at least N930 in filling stations across the country, with a high anticipation of a further price crash.
