The Nigerian National Petroleum Company (NNPC) Limited has increased price for premium motor spirit (PMS) also known as Petrol at its filling stations amid fuel scarcity.
It was gathered that NNPC retail stations hiked fuel pump by N10 on Sunday, with motorists and individuals buying a litre of fuel at N175, above the N165 price.
One of the attendants at the NNPC filing station located at Alagbole-Akute, Ifo, area of Ogun State, said the price changed on Sunday, but didn’t give reason for the increment.
Recall that the government threatened to revoke license of private firms that hike fuel price beyond the agreed N165 per litre, monitoring the activities of the private retail station.
Pipelines and Product Marketing Company (PPMC) and the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) cautioned oil marketers against raising price, however, the government has gone ahead to do that.
The fuel scarcity has resulted to some filling stations not opening to the public during the weekend, with the Independent Petroleum Marketers Association of Nigeria (IPMAN), Secretary for Lagos Satellite Depot Ejigbo, Akeem Balogun, disclosing two days ago that the government is yet to distribute fuel to the depot.
Ejigbo said without receiving the product will enable oil marketers to “buy at the controlled price and can also sell at N165 per litre at our retail outlets.”