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NNPC Petroleum Corp increases fuel price to N145 per litre

Management of NNPC has increased the pump price of petrol from N141 to N145 at all the mega stations.

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NNPC says N774m is spent daily on fuel subsidy play

Group Managing Director (GMD) of the Nigerian National Petroleum Corporation (NNPC), Maikanti Baru

(Financial Watch)

The Nigerian National Petroleum Corporation (NNPC), has increased the pump price of petrol from initial N141 to N145.

According to report, the N4 increase will apply to all the NNPC's mega stations.

Until now, NNPC have sold petrol at N141 per litre at all its mega stations.

Reacting to this, spokesman for the NNPC, Garba Deen Muhammad said:"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."

Other filling stations have been selling a litre of petrol at N145 since the last increase in the fuel of PMS.

Meanwhile the corportation has said it can't continue to sell fuel for N145 though there were other reports that there are no plans yet to increase the price of fuel.

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