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| Olorunsola |
The Department of Petroleum Resources has threatened to sanction oil marketers that sell petroleum products at arbitrary prices by shutting their facilities and revoking their operating licences.
The Director, DPR, Mr. Osten Olorunsola, said this in Lagos on Thursday at a meeting between the department and petroleum products depot owners.
“Any marketer, who fixes arbitrary prices, shall be sanctioned and the affected facility will be shut and the operating licence withdrawn,” Olorunsola said.
The DPR boss said it was illegal for any company to sell petroleum products from a depot without issuing receipts of sale.
“To this end, all marketers buying products from depots should be issued with certified receipts of purchase indicating the quantity of products purchased and the prices,” he said.
Olorunsola said the department had been inundated with complaints from members of the public about marketers arbitrarily fixing petrol price above the government-approved N97 per litre.
He said some retail outlets were discovered to be flagrantly displaying the arbitrary prices without fear of being sanctioned; adding that such negated stipulated regulations and would not be condoned.
“The prices of petroleum products at the retail outlets are affected largely by the ex-depot prices. This is why it is of utmost importance to ensure that the regulated products (petrol and kerosene) from facilities are sold at the government-approved prices,” he said.
The department had since last year mandated oil depots to install metres at the receiving jetties to improve the accuracy of the quantity of products received through dynamic measurement.
The Department of Petroleum Resources has threatened to sanction oil marketers that sell petroleum products at arbitrary prices by shutting their facilities and revoking their operating licences.
The Director, DPR, Mr. Osten Olorunsola, said this in Lagos on Thursday at a meeting between the department and petroleum products depot owners.
“Any marketer, who fixes arbitrary prices, shall be sanctioned and the affected facility will be shut and the operating licence withdrawn,” Olorunsola said.
The DPR boss said it was illegal for any company to sell petroleum products from a depot without issuing receipts of sale.
“To this end, all marketers buying products from depots should be issued with certified receipts of purchase indicating the quantity of products purchased and the prices,” he said.
Olorunsola said the department had been inundated with complaints from members of the public about marketers arbitrarily fixing petrol price above the government-approved N97 per litre.
He said some retail outlets were discovered to be flagrantly displaying the arbitrary prices without fear of being sanctioned; adding that such negated stipulated regulations and would not be condoned.
“The prices of petroleum products at the retail outlets are affected largely by the ex-depot prices. This is why it is of utmost importance to ensure that the regulated products (petrol and kerosene) from facilities are sold at the government-approved prices,” he said.
The department had since last year mandated oil depots to install metres at the receiving jetties to improve the accuracy of the quantity of products received through dynamic measurement.
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