Petrol stations in Nigeria on Tuesday, 18th July, 2023, adjusted the pump prices of Petrol, known as Premium Motor Spirit, PMS, from 537 to 617 Naira Per Liter, barely 2 months after the last increase, which saw the price of petrol jump from 195 Naira to 537 Naira.
Although the immediate reason for the increase could not be ascertained, a visit to NNPC filling stations in the Central area of Abuja showed that they have adjusted their pumps to reflect the new price.
This is coming weeks after The National Controller Operations, Independent Petroleum Marketers Association of Nigeria, Mike Osatuyi, told pressmen on Wednesday, 29th June, 2023, that prices of PMS could rise to above 600 once independent marketers start importing products from July, 2023.
Story: Ihuoma Ukeje