The Nigerian National Petroleum Company Limited (NNPCL) has once again increased the pump price of Premium Motor Spirit (PMS), commonly referred to as petrol, now reaching N1,030 per litre.
This development was observed by PulseNets reporters at various NNPCL stations in Abuja on Wednesday.
PulseNets reports that the price hike follows NNPC Limited decision to terminate its exclusive purchase agreement with Dangote Refinery. As a result, NNPCL is no longer the sole off-taker, allowing marketers to negotiate prices directly with Dangote Refinery.
In the Federal Capital Territory (FCT), the price per litre, which had previously stood at N897, has now surged. PulseNets also gathered that in Lagos, where petrol was previously priced at N885 per litre, it is now selling at N998, leading to long queues at fueling stations.
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“We do not leave our own, and all of them – dead or alive – will be returned home,” it added.
