The National President of Natural Oil and Gas Suppliers Association of Nigeria (NOGASA), Mr. Beneth Okorie, has decried the incessant fluctuations in the pump prices of petroleum products.
Okorie spoke in Port Harcourt on Thursday through the Public Relations Officer of NOGASA, Mr. Chinedu Ukadike, lamenting that the frequency in price changes is causing hardship among marketers, suppliers and users.
He said: “This incessant up and down monthly review has caused a lot of untold hardship to marketers, suppliers and end users. The depot owners whose petroleum products were purchased at N113.7 per litre are demanding differentials from marketers who had earlier paid them before the increment by PPRA while waiting for loading”.
He argued it is ironical that refunds were not made to suppliers and marketers when there was a downward review of prices.
Ukadike regretted that the situation introduced a vacuum in the system in terms of lifting of petroleum products, saying it had the propensity to cause unnecessary scarcity by forcing private tank farm owners to hoard the products.
The NOGASA President in an earlier circular directed all marketers and suppliers of petroleum products to halt payment of price differentials until the National Executive Committee (NEC) meet on the matter.
He promised that the association would do its best to support the Federal government by ensuring distribution of petroleum products to all parts of the country.
He described NOGASA as the umbrella body of suppliers of petroleum products with the principal aim of protecting members and supplying quality products to end users.