Over Pricing: DPR shuts 23 private petroleum products depots, ordered monitoring of sales nationwide
Department of Petroleum Resources (DPR) on Sunday announced it has shut down 23 private petroleum products depots across the country for selling Premium Motor Spirit (PMS) to marketers above ex-depot price of N77.66 per litre.This was disclosed in a statement issued by DPR Director, Mr Mordecai Ladan, in Abuja.
The statement, while revealing that the shutting of the facilities took effect on Friday added that the depots were mainly in Lagos with two in Warri, Delta, and three in Calabar.
The statement reads: “The clampdown on the private depots followed the report of a special investigation team set up by DPR to uncover some unwholesome practices by the private petroleum products depots following a tip-off.
“The depots would remain sealed until some conditions were met by the owners, including payment of two million naira fine and an undertaking that PMS would not be sold to bulk buyers.
“All subsequent sales would be at N77.66 per litre as approved by the Federal Government, adding that DPR would monitor the sale of the remaining and subsequent products”.
It also directed all DPR offices to ensure that all filling stations sold PMS at government approved price of N87.00 per litre regardless of source depot.
