The Department of Petroleum Resources (DPR) has assured of the availability of petroleum products to last throughout the Easter season and beyond in Warri and environs.
Mr Antai Asuquo, Operations Controller, DPR, Warri Zonal Office gave the assurance in on Wednesday in Warri.
The Easter celebration falls between April 2 and April 5.
Asoquo said “The current situation as regards Petrol Motor Spirit (PMS) particularly in Warri zone is that the product is available at both the depot retail ends.
“There are enough products in the facilities within Warri zone to take us through the Easter and beyond. As we speak, new products are still coming in, so there will be no scarcity.”
Asuquo advised the marketers against hoarding the product, noting that it was detrimental to the survival of their business.
According to him, the petroleum business is determined by market forces which lead to price volatility, so they should be ready to make some losses because sometimes they also make gains.
He said that hoarding of products contravenes the licenses issued to marketers by DPR, adding that the regulatory agency will continue to intensify its surveillance to enforce compliance.
“They are expected to sell and not to hoard. We have been going out on surveillance recently particularly in Asaba, Patani and some other locations.
“Where we get marketers hoarding product, they are sanctioned and pay a huge fine to the Federal Government. A lot of them have been paying.
“It does not profit them to hoard these products for long, it exposes them to risk, there is time value for money, it is money tied down that they would have used to turn their businesses around and make profit.
“You do not have absolute control over this business. So, I will advise them to continue to sell, whenever there are price adjustments, they will all know and adjust accordingly,” he said.
Asuquo also advised the marketers to carry out their business ethically so as not to undermine the customers by way of hoarding and other sharp practices.
“We will ensure the product is available; they do not hoard it; adjust their meters to undermine the dispensing volume and they take good hygiene in their areas of operations to ensure the safety of businesses.
“The level of compliance is high, we sanctioned some marketers recently because they were hoarding products.
“They have paid to the government and brought evidence of payment, we reopen them and supervised the commencement of sales of those products,” he said.