The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDRA) has assured 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.
This is as the Premium Motor Spirit (PMS) popularly known as Petrol is being sold at loading depots of Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN) members above the official price.
This, according to NMDRA, is caused by the erroneous insinuation of imminent increase in the price of the product.
The regulatory authority disclosed this in ac statement signed by its Chief Executive Officer (CEO), Farouk Ahmed.
NMDRA however assured the general Public that there is adequate stock of Petroleum and the NNPC has further assured of sufficient supply of Product.
Mr Ahmed therefore cautions marketers against hoarding and engaging in unwholesome practices that are inimical to the smooth supply of Petroleum.
He also directed all operational offices of the Authority across the nation to ensure that all loading depots and retail outlets are dispensing petroleum at only the approved price while urging motorists to desist from panic buying and report any erring marketer to the nearest office of the Authority.