Petrol: We are not at our full market pricing level yet

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NNPC said the current increase in petrol pump price does not reflect free market conditions.

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On Tuesday, NNPC Ltd adjusted the pump price of petrol to N897 from N617 as motorists and commuters grumbled amid the uncertainty. Other independent stations have also adjusted their pump prices, in some instances above N900 per litre. “It should be a free market, unrestricted market-based conditions…what’s sustainable is the unrestricted free market pricing of PMS. That way, competition takes over, and Nigerians will get the best.

“So, we are ensuring that deliveries are made to stations. We are doing our best to make sure that there are no diversions,” he added.

 

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