PETROAN Sets up Task Force to Curb Exorbitant Pricing of Petrol by Filling Stations 

The Petroleum Products Retail Outlet Owners Association of Nigeria, PETROAN has formed a task force to control the exorbitant prices of Premium Motor Spirit, known as petrol in some filling stations across the country.

Investors King reports that the task force set up was to sanction erring retail outlets having received information about filling stations that sell petrol above N300 per litre. The Federal Government’s regulated PMS pump price is N172 per litre.

PETROAN frowned at the exploitation as the government has not announced any increment in fuel prices. While major marketers and the Nigerian National Petroleum Company Limited (NNPCL) sell between N194 and N200 per litre, other marketers outlets sell theirs between N250 and N340/litre.

The President of PETROAN, Billy Gillis-Harry assured consumers that the situation will be curtailed with the deployment of the task force.

He noted that the monitoring team will work alongside with the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) which is the Federal Government agency in charge of regulating the midstream and downstream oil sectors.

Gillis-Harry said, “We frown at anybody selling so much above the price of what should be adequate. If they accessed the product at a high rate, then we would not sanction them.

“But if they accessed the product from NNPCL and sell it at exorbitant rates of N220, N250, we will sanction you. It is getting very punitive. So our task force now goes around and when we get them we invoke the powers of the NMDPRA over them.

“By the time they (defaulters) go and settle all their fines, they will know that it is not worth selling at exorbitant prices with the intention to profiteer. That is what we are doing right now and I think Nigerians should be appreciative of PETROAN as regards this development.”

The association president noted that although it is presently difficult to get petrol from NNPCL but insisted that the product shouldn’t be sold above N200 per litre.  

He promised consumers that the association will work assiduously to put an end to the exploitation of citizens at filling stations.

Meanwhile, the National Controller Operation, Independent Petroleum Marketers Association of Nigeria (IPMAN), Mike Osatuyi had stated that oil marketers selling above the stipulated petrol price will be exposed after the elections.