The Unbiased Petroleum Entrepreneurs Affiliation of Nigeria (IPMAN), Lagos chapter, on Monday introduced it will not have the ability to sell petrol below N180.

The entrepreneurs disclosed this in an announcement by its secretary, Akeem Balogun.

They mentioned the choice was taken as a result of its members might not function at a loss.

They mentioned whereas the federal government had fastened N165 per litre because the pump worth of petrol, the present realities in the market confirmed that the minimal the product ought to be retailed on the stations ought to be N180.

The group suggested its members to sell petrol at a sustainable worth inside their setting.

In current months, gas shortage has worsened in Abuja and several other different cities throughout the nation.

Final week, lengthy queues returned to filling stations in Ogun, Oyo and Ekiti as most of them remained shut as a result of shortage of petrol.

On Monday, gas queues resurfaced in most components of Lagos.

The entrepreneurs listed the excessive price of shopping for petrol on the depots, the excessive price of diesel for working their stations, and the elevated price of freight as the foremost elements accountable for the current queue.

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The assertion by the IPMAN reads: “Distinguished entrepreneurs, the Chairman and executives in conjunction with some senior members of our unit, organized a press convention at this time twentieth June 2022, at IPMAN HOUSE Ejigbo Lagos, the place we defined our predicament with the present worth of PMS on the personal depot.

“We defined that with the present worth, there isn’t a means we can sell lower than N180 per litre.

“On this be aware, members are hereby suggested to sell at a sustainable worth inside their setting.

“Simply guarantee that the value is in your pump. Kindly contact the Secretariat ought to you could have any authority difficult your operations,” it mentioned.