The Independent Petroleum Marketers Association of Nigeria, IPMAN, has said that the pump price of Premium Motor Spirit, known as petrol, may drop in the coming days.
It stated this following the availability of the products as a result of the massive imports of PMS by the Nigerian National Petroleum Company.
Ukadike Chinedu, the National Public Relations officer of IPMAN made this known on Saturday.
“Once the products start hitting filling stations, fuel price will reduce because the recent high cost was due to supply drop,” he said.
The development comes as the Nigerian Port Authority confirmed that 18 ships with fuel and other items had arrived at Lagos port.
This anticipated price reduction aligns with the confirmation from the Nigerian Ports Authority (NPA) regarding the arrival of 18 ships carrying fuel and other essential goods at the Lagos port.
Recently, IPMAN and NNPCL clashed over the reason for the re-emergence of fuel queues in some parts of the country, including Abuja, Nasarawa and Niger.
While IPMAN blamed the scarcity on fuel supply shortage, NNPCL said it is due to a ‘price war’.