The Minister of State for Petroleum Resources, Dr. Emmanuel Ibe Kachikwu, yesterday expressed his relative disappointment with the handling of the monitoring and enforcement of the newly-approved pump price of N86.50 for petrol across the country by the Department of Petroleum Resources (DPR), ThisDay reports.

While demanding for improved regulatory actions from the DPR whom he explained had not really lived up to its mandate, he further instructed that it should immediately escalate its regulatory tentacles to cover and curtail such sale of petrol above its approved prices in filling stations across the country, especially in the hinterlands.

He also added that the government would in addition to closing down petrol stations that either sell above approved pump prices or dispense through poorly calibrated meters, go all the way to withdraw operational licenses issued to stations that are guilty of habitual profiteering.