The Department of Petroleum Resources (DPR) yesterday Thursday July 30,
2015, vowed to sanction depot owners and major marketers who sell petroleum products above the official price.
News Agency of Nigeria (NAN), reports that this is contained in a statement issued by the agency after
a meeting held in Lagos with all stakeholders in the
downstream sector of the petroleum industry with
representatives of PPMC, PPPRA, MOMAN, DAPPMAN and IPMAN.
It
said the meeting was summoned to convey government’s displeasure at the
illegal sale of petrol above the stipulated pump price and the ever
lengthening of vehicle queues at filling stations.
According to
the statement, preliminary investigations revealed that the prevailing
hike in retail prices of petrol and kerosene across the country is as a
result of the unscrupulous activities of some depot owners and major
marketers who are engaged in selling the products to retailers at prices
higher than the official ex-depot price of N77.66k and N34.51K
respectively.
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