THE Nigerian National Petroleum Company Limited (NNPCL) has increased the price of its Premium Motor Spirit (PMS).
Our correspondent who went round NNPCL retail outlets in Abuja, yesterday, gathered that the state-owned oil firm has jerked up the fuel pump price to N945 per litre from N895.
This was the case in NNPCL filling stations along Kubwa Expressway, Wuse Zone 6 (Berger), Zone 4, Airport Road, Lugbe, and across its locations in Abuja.
This showed that NNPCL increased its petrol pump price by N50 per litre.
A motorist, Benjamin Chukwu said the hike would directly impact the cost of transportation and worsen the country’s inflationary pressures.
“I discovered they increased their pump price on Sunday evening to N945 per litre. Others like MRS also did this weekend. Certainly this will impact transportation fare,” he said
Earlier, the media reported that MRS filling stations, a retail partner with Dangote Refinery, announced a new price template for petrol between N925 and N945 per litre in Lagos and Abuja.
The development comes after Dangote Refinery increased its ex-depot price of petrol to N880 per litre from N825 on Friday last week.
Recall that global oil prices had been on the rise following the escalation of war between Israel and Iran in the past two weeks.
Yesterday, Brent and West Texas Intermediate rose by nearly 3 per cent upon the United States bombing of three Iran nuclear sites at the weekend.
