Updated: IPMAN tells members to sell petrol at N170

<!– Petrol price goes up to N170 –>

Petrol price goes up to N170

Petrol price jumped to N170 today, from N160-162 per litre, going by the instruction of the Independent Petroleum Marketers Association of Nigeria (IPMAN ) to retailers.

IPMAN today directed marketers to sell the Premium Motor Spirit (PMS for N170 per litre, following PPMC’s increase of ex-depot price of petrol from N146 to N152.

IPMAN National Vice President, Alhaji Abubakar Maigandi, said:

“The PPPMC last midnight told us that the ex-depot price is now N155. 17 per litre. We have directed our marketers to sell for N170 per litre.”

He also noted the price will still depend on the forces of demand and supply.

NNPC had not announced the price for two months because, according to it, the announcement always generates issues.