The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDRA) has warned Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN) members against selling Premium Motor Spirit (PMS) popularly known as petrol, above the office price.
It cautioned the general public that the price of petrol has not been changed and that the Federal Government has no intention of upward adjustment of the price at the moment.
It noted that it has been brought to its notice that petrol is being sold at loading depots of (DAPPMAN) members above the official price, which is caused by the erroneous insinuation of imminent increase in the price of the product.
The authority noted that the country has adequate stock of petrol while the NNPC has further assured of sufficient supply of the product.
This was disclosed in a press release from the CEO, Engr. Farouk Ahmed at the weekend.
He warned the marketers against hoarding and engaging in unwholesome practices that are inimical to the smooth supply of the product.
He also urged motorists to desist from panic buying and report any erring marketer.