The company had stated that it would commence supply of diesel and JetA1 or aviation fuel in the domestic market pending the Federal Government's approval.
IPMAN spokesman Ukadike Chinedu said it is likely that Nigerians may see a hike in the price of the commodity as inflation and scarcity of Forex persist.
On Tuesday, October 10, 2023, depot owners sold diesel to marketers for N900 and N970 per litre, while outlets dispensed the product for N1,000 and N1,100.
However, while Nigeria saw a decline in imports from the UK, its exports experienced a modest increase of 1.2%, amounting to £32 million compared to the corresponding period in 2022.
The Independent Petroleum Marketers Association of Nigeria (IPMAN) National Public Relations Officer, Chief Ukadike Chinedu, claims the petrol price should be around N1,200/litre, given the current dollar-diesel-petrol cost dynamic.