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Nigerian oil dealers claim that the price of Premium Motor Spirit, often known as gasoline, cannot be maintained at N165 per litre.

In response to the Federal Government’s directive that gasoline should be sold at the set pump price, the marketers claimed that issues like product sharing, increased fines, difficulty obtaining tax clearance, and the high cost of doing business nationwide, among others, would prevent the directive from being accepted.

News Report that according to them, the cost of the product must be sold at the agreed-upon ex-depot price at various depots, whether they are run by the government or the private sector, in order for filling stations to dispense the product at the mandated N165/litre rate.

They also noted that marketers buy the commodity at higher rates from private depots than what was approved by the Federal Government despite the many challenges in the downstream oil sector.

Naija News understands that the marketers highlighted their problems to the Nigerian Midstream and Downstream Petroleum Regulatory Authority in Abuja, a development that made the agency ask the marketers to report depots that were selling PMS above the approved price.

The approved ex-depot price of petrol is about N148/litre, but retailers say private depot owners sell the commodity above N160/litre.

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