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The Independent Petroleum Marketers Association of Nigeria (IPMAN) has addressed concerns about a potential increase in fuel prices in the country.
There were reports circulating that IPMAN members were planning to raise the price of petrol to N700.
However, IPMAN has debunked these reports and reassured Nigerians that there is no cause for alarm.
They clarified that any slight increase in pump price is due to transportation costs and assured the public that petrol will still be affordable for the masses.
IPMAN emphasized that the price of petrol will not exceed the current nationwide selling price.
They also explained that the differential in prices is related to transportation and location, with prices being higher for longer distances.
IPMAN expressed their support for the removal of petrol subsidies, stating that it was a scam.
