The Independent Petroleum Marketers Association of Nigeria (IPMAN) has urged Nigerians to avoid panic buying, saying there is enough fuel in the country.

The IPMAN Publicity Secretary, Ukadike Chinedu, said this in Abuja on Sunday, December 22, 2024.

Chinedu commended the Dangote Petroleum Refinery for reducing the price of its Premium Motor Spirit (PMS), otherwise known as petrol, to N899.50 per litre.

The IPMAN official stated that the gesture would help to reduce transport costs for Nigerians ahead of the Yuletide holidays.

Chinedu said: “That is the beauty of deregulation. Prices are determined by market forces.

Dangote refinery partners MRS to sell petrol at N935/litre

“With the Dangote and federal government refineries by the corner, this will bring competitive prices.”

He urged all IPMAN members to adjust their pump to the new pump price to attract more customers.

Chinedu added: “We have started ordering at the new price, and even some of our members have already started adjusting their pumps lower to be able to have faster sales.

“If your price is higher, nobody will buy from you.

“You will even find out now that those queues that you normally see in NNPC filling stations have all reduced because most marketers are almost selling the same thing with them.”

The Star