The Independent Petroleum Marketers Association of Nigeria (IPMAN) says filling stations across the Federal Capital Territory will begin reviewing their petrol pump prices in the coming days as new supplies enter the market.

IPMAN National Publicity Secretary, Chinedu Ukadike, disclosed this in an interview with the News Agency of Nigeria (NAN) in Abuja on Thursday.

Ukadike said marketers were preparing to adjust their pricing and sales strategies once the new petroleum products begin arriving, although the exact timing of the new supplies remains uncertain.

He explained that marketers would respond quickly to changes in supply conditions and review their pump prices in line with prevailing market conditions and existing regulations.

“Once the new products begin arriving, marketers are expected to respond quickly by reviewing their prices and updating their product offerings,” Ukadike said.

He added that purchases of the new products could begin within the next few days, depending on when the supply process officially commences.

The announcement comes amid recent increases in petrol prices in Abuja and other parts of the country. The Nigerian National Petroleum Company Limited (NNPCL), for instance, recently increased its petrol price in parts of Abuja from N1,270 to N1,345 per litre.

The latest developments also follow a series of adjustments in the price of petrol supplied by the Dangote Refinery. According to NAN reports cited by IPMAN, the refinery’s gantry, or ex-depot, price rose from N1,165 per litre to N1,185, N1,200 and subsequently N1,265 within a week. The increases have been reflected in pump prices at several filling stations in the FCT.

However, the latest IPMAN statement points to a possible downward review once the new products become available, rather than another increase. Ukadike said marketers would adjust their prices according to the cost and availability of the new supplies.

The uncertainty over the timing of the new products means motorists may have to wait several days before the expected price adjustments become widespread across filling stations.

The development has attracted concern from motorists, many of whom have urged the Federal Government to take steps to stabilise petrol prices amid the recent increases.

IPMAN said the forthcoming adjustments would be carried out within the existing regulatory framework, while marketers continue to monitor supply and pricing conditions.