Independent Petroleum Marketers Association of Nigeria has projected that the pump price of petrol could rise above N700 per litre in some states in the country starting from July.
IPMAN’s National Controller Operations, Mike Osatuyi, made this known during an interview with Punch.
He said, “What I am seeing is around N600 and above, depending on the exchange rate, the current crude price at the international market and the landing cost. Those in Lagos will pay around N600, those outside Lagos around N600 plus, while those in the north would be paying anything from N700 and above.
“We are expecting the roadmap from the Federal Government following the meeting with labour. Labour has said they are giving the government two months to come up with the roadmap. We are also expecting the roadmap on how to deepen the use of Compressed Natural Gas.
“Already, three marketers have been confirmed to start bringing in products starting from July. That’s when we would know the real price of products because it would definitely increase. This current price is just a transitional price.”