Nigerian National Petroleum Company Limited (NNPCL), on Monday, increased the pump price of premium motor spirit across its retail outlets, up to N955.00.
At NNPCL retail outlets in Abuja, it was discovered that marketers adjusted their fuel pump price from N890 to N955 per litre.
This shows an increase of N65 in the petrol pump price.
NNPCL retail outlets along Kubwa Expressway, Wuse and other parts of the Federal Capital Territory (FCT), were already selling at the new price, when our roving reporters visited.
Also, filling stations in Kogi and Nasarawa states, were reported to have begun to put into effect the new pump price of PMS.
NNPCL’s action took effect after independent petroleum product marketers and filling station owners in Abuja increased their petrol pump prices to between N950 and N971 per litre at the weekend.
The independent marketers decision followed an upward review of the ex-depot petrol price by Dangote Refinery to N858 per litre, up from N820.
NNPC has no functional refinery, even though they had spend billions of dollars on unsuccessful Turn Around Maintenance (TAM).
