NNPC Mega Stations Increase Fuel Price By N4/litre
The Nigerian National Petroleum Corporation (NNPC) has increased the pump price of petrol at its retail outlets by N4 from N141 to N145 per litre.
Though the new N145 price remains within the maximum price cap fixed by the federal government in May, this is the first time fuel at NNPC’s outlets will be sold at that price.
Before now, prices have been hovering between N143 and N141 per litre at NNPC and affiliate stations in major cities and even less at stations in the hinterlands.
Reacting to this, spokesman for the NNPC, Garba Deen Muhammad, told Daily Trust;
“there was no rule that compels any marketer including the NNPC to sell at a particular price. A price regime was introduced between N135 and N145. So, you can sell anywhere within that range. What you are seeing is interplay of market forces.”