Two days after the Federal Government announced a downward review of the price of Premium Motor Spirit (PMS) from N145 to N125, marketers in Anambra are yet to adjust to the new price. News Agency of Nigeria (NAN) Correspondent who monitored the situation on Friday reports that retail outlets in Awka, the state capital were still selling at N145. A manager of one of the outlets on Enugu-Onitsha expressway said it was not realistic that they would adjust immediately when they still had products procured at the old rate. The source said the reduction in pump price was good, but marketers should not be made to bear the cost.
“We cannot sell at N125 for now because the product we have came at above N141, let them allow us to sell off what we have now. “The depot owners have to start loading based on the adjusted price and that will make us sell at the new goverment price,” he said. Chief Cletus Obi-Okoye, the state Chairman of Petroleum Dealers Association of Nigeria said implementation of the new price regime should start with the depots. Obi-Okoye said most of his members still have old stock and appealed that the marketers be allowed to exhaust their stock before enforcement commences.
However, the Department of Petroleum Resources (DPR) says it would ensure that marketers adjust to the new price. Mr Okiemute Akpomudjere, DPR Operations Controller in the state, faulted the marketers for refusing to adjust their meters to reflect the new pump price, saying that the adjustment should be automatic. “Our people are already in the field because there is an ongoing operation. “The government pronouncement of reduction in pump price is a policy that has to be implemented. “DPR will ensure that Nigerians, petrol customers are protected by ensuring immediate adjustment, “ he said. The Federal Government on March 18 announced a downward review of price of petrol from N145 to N125 per litre in response to falling crude oil prices to less than 30 dollars per barrel.