Oil Marketers Blame Sale of Petrol Above N100 on DPR Oversight.

The Independent petroleum marketers have blamed the sale of
Premium Motor Spirit, popularly called petrol at retail outlets above N100 litre, due to poor oversight in terms of monitoring activities at major depots by officials of the Department of Petroleum Resources (DPR) according to reports by The Punch.

The Group Chairman of Prosperous Oil and Gas, Mr. Isinkaye Abiodun, said that sincerity on the part of DPR officials during monitoring exercise would curb the fraudulent practice at the depots.

Moreso, he added with regard to major importers that; “We buy at N100 per litre from them. It is for that reason that we sell above N100 per litre at retail outlets. The depot owners are constantly inflating the price and if the DPR is actually monitoring them very well as they claimed to be doing, we won’t be buying at that amount”.