Entertainment
NNPC Increases Pump Price Of Petrol To 179 Naira Per Litre
The Nigerian National Petroleum Company (NNPC) Limited has approved an increase in the pump price of Premium Motor Spirit (PMS) from N165 to N179 per litre, which will take effect on Tuesday, July 19.
The NNPC directed fuel marketers in a notice to change the petrol price on pumps to the new price effective today. This was despite the company raising the ex-depot price from N148.17 to N167 per litre.
This followed weeks of petrol scarcity across the country, as fuel retailers used different price bands to force unofficial deregulation attempts.
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The majority of filling stations in Lagos have already adopted different pricing models.
While some filling stations have changed the price on their meters to reflect the current price they are selling at, Guardian News reports that others have left theirs to show the approved retail price of N165 per litre but were selling above the displayed price.
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