Photo: Long fuel queued at filling stations in Abuja amid fuel crisis
The Nigerian National Petroleum Company (NNPC) Limited has approved the hiking of the pump price of Premium Motor Spirit (PMS) from N165 per litre to N179 per litre, with effect from Tuesday.
The company also increased the ex-depot price from N148.17 to N167 per litre.
This is contained in NNPC’s notice to fuel marketers, which directed them to change the petrol price on pumps to the new price effective today.
The development comes after weeks of petrol scarcity resurfaced across the country as fuel retailers were adopting different price bands to force unofficial deregulation attempts.
Most filling stations in Lagos have already adopted different price models.
While some filling stations have changed the price on their meters to reflect the current price they are selling at.
Others have left theirs to show the approved retail price of N165 per litre but were selling above the displayed price.
A Mobil filling station on the Airport Road, in Abuja, which now sells for N170 per litre, while a Conoil station on the same highway at sells at N180 per litre.
