The Nigerian National Petroleum Company, NNPC Limited has instructed all petroleum marketers to adjust retail prices for premium motor spirit to a range between N488 to N555 per liter.

The instruction which reach marketers on Wednesday, 31st May, 2023, cited management approval of the upward review of NNPC PMS pump price table for Mega, Standard and Leased Stations. The new table of retail prices for different geopolitical zones of the country is to be implemented by retail managers to take immediate effect.

“Please implement meter change as approved effective today 31st May 2023, is to attend to all locations as relates to their area of coverage in our network”.

The new price schedule shows that petrol will sell highest in Maiduguri and Damaturu at N557 per liter and N550 per liter in the rest of the Northeast zone.

In Birnin Kebbi petrol will sell at N545 to lead prices in the Northwest zone. The average price in the North Central zone will be N537 per liter except in Ilorin where it will sell for N515 per liter. The new price list shows that consumers in the Southeast will buy at an average of N520 per liter.

Aside from Uyo and Yenegoa where petrol will now sell at N515 per liter, the rest of the South-south zone will get the product at N511 per liter, while consumers in Lagos will buy the product at N488 per liter, the rest of the Southwest zone will get the product at N500 per liter.

Justina Egye