The Independent Petroleum Marketers Association of Nigeria, South-West, has threatened to stop lifting of petroleum products over the hike in the petrol pump price.

The South-West Chairman of IPMAN, Alhaji Dele Tajudeen, described the hike in the pump price by the Federal Government as unfavourable and unfortunate.

Tajudeen spoke with journalists in Abeokuta on Sunday on the new petrol pump price which was announced by the Petroleum Products Pricing Regulatory Agency last week.

The IPMAN Chairman said the new price regime of N143.8 came as a surprise.

He said that the government jerked up the depot price from N111.78 to N133.72k, and the pump price to N143.8 without considering marketers’ plights.

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Source: OrientEnergyReview