Residents of Warri and Effurun and other neighbouring towns in Delta State have continued to lament the high cost of fuel by the Independent Petroleum Marketers Association of Nigeria (IPMAN) despite federal government directive on adopting a new price regime.
A visit to some independent marketing outlets in some major towns and cities in the State revealed that the pump price of petrol remains N125 per litre, a price at variance with the N108 per litre directed by the NNPC in its new prize regime released last week to ease the economic impact of the COVID-19 lockdown on the public.
From Refinery road, Jakpa Road, Warri-Sapele Road, Okere Avenue, GRA, NPA Expressway to the suburbs of Jeddo, Ubeji, Osubi, Agharho, Ughelli, Sapele, Udu, and DSC Roundabout as well as Igbokoda and Ugbomro, residents have expressed disappointment at what they describe as extortion by IPMAN members in the State.
A top official at the Petroleum Products Marketing Company, Warri Depot, who asked to remain anonymous, said that selling petrol at N125 per litre amounts to reaping excessive profit, when marketers have already started loading at N108 since last week when the NNPC directive was issued.
He explained that even at the cost of N117 per litre, the marketers were still going to be making a good profit even after deductions of running costs at their stations, including payment of staff salaries and other expenses, stating that they are just out to inflict further hardship on the people.