BREAKING: Marketers adjust pumps as fuel price hits N617/litre

Independent oil marketers confirmed the increase in the cost of the commodity, as they stated that any shift in price by NNPCL stations was an indication of a rise in the pump price of PMS.

“This is because NNPCL is still the major importer of petrol into Nigeria currently, though other marketers are gradually importing the commodity. The price this morning at some NNPCL stations is N617/litre,” the Secretary, Independent Petroleum Marketers Association of Nigeria, Abuja-Suleja, Mohammed Shuaibu, told our correspondent.

Recall that President Bola Tinubu had during his inaugural address on May 29, announced that subsidy on petrol had ended, a development that led to the jump in the price of the commodity from N198/litre to over N500/litre on May 30, 2023. Since the withdrawal of subsidy on petrol and the floating of the naira against the dollar, marketers had continued to explain that the cost of PMS could rise to as high as N700/litre.

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BREAKING: Nigerian Petroleum Company, NNPCL Increases Fuel Price To N617 Per Litre | Sahara ReportersThe price of Premium Motor Spirit popularly known as fuel has risen to about N617 per litre as the controversy and the hard effects of subsidy removal by the Nigerian government continue to hit Nigerians. A visit to a Nigerian National Petroleum Company Limited (NNPCL) mega filling station in the Central area of Abuja on Tuesday confirmed that the fuel price had been adjusted from N539 to N617 per litre.
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