The Independent Petroleum Marketers Association of Nigeria, IPMAN, has debunked claim that its members are making move to increase pump price of petrol to N700.00 per litre.
The association stated this amid remours that foreign exchange unification could affect importation price of petrol.
It was reported that a litre of petrol could be sold for N700 in Northern Nigeria starting from July.
In response to the speculation, IPMAN has flayed the fear of Nigerians that there is no cause for panic buying.
Speaking in Ibadan yesterday, Chairman of IPMAN South-West Zone, Dele Tajudeen, revealed that the slight increment in the price of petrol was caused transportation cost.
He, therefore, confirmed the availability of the product nationwide.
“I want to disabuse the mind of the people that they should not panic about it; there is no cause for alarm, we are in control and there is nothing like that.
“So, people should be rest assured that there is no way they can buy petrol more than the price it is being sold now.”