Breaking: Petrol price hits N617 per litre

The pump price of Premium Motor Spirit (PMS), otherwise known as Petrol, has increased to N617 per litre.

It was gathered that the product, which was earlier sold for N537, has increased to N617 per litre at NNPC filling stations.

There were long queues in the filling situations still selling at the old price in Maitama, Wuse, Gwarimpa, Jabi, Wuye and Kubwa areas of Abuja.

Most stations have adjusted their pump prices to N617 to N620 but AA Rano, Nipco in Jabi are still selling at the old price and some other few places.

A fuel attendant, who pleaded anonymity, said they would adjust their pump price before the end of today.

A customer, Emma Uzor, described the development as a terrible situation, saying: “We are still battling with new price and with two months they increase it again; this is not fair to the masses.

“No information or reasons for the increment, how do they want the poor masses to survive? The salaries have not been increased and food prices have risen.

“The government should go back to their drawing board and come up with favourable conclusion from the citizens.”

The Nigeria Midstream and Downstream Petroleum Regulatory Authority (NDMPRA) has yet to speak on the increase in the petrol price as of the time of filing this report.

The Star recently reported that the Independent Petroleum Marketers Association of Nigeria (IPMAN) denied the alleged plan by the association to increase the pump price of petrol to N700 per litre nationwide.

IPMAN urged Nigerians to disregard the speculation and not to engage in panic buying, stressing that the price of the product would not be increased.

It would be recalled that President Bola Tinubu announced the removal of subsidy on petrol on May 29, 2023, when he took his oath of office as Nigeria’s President, saying there was no allocation for it in the 2023 budget beyond June.

Shortly afterwards, the Nigeria National Petroleum Company Limited announced the adjustment of pump price where NNPCL filling stations were selling fuel at N537 while others were selling from N540 and above.

The Star