Hours after the adjustment of the price of the Premium Motor Spirit popularly known as fuel to N617 at the Nigerian National Petroleum Company Limited (NNPCL) stations in Abuja, the price was also increased in some locations around the country, findings by SaharaReporters showed.
SaharaReporters learnt from motorists that fuel is now selling for N620 per litre in Kano and N650 per litre in Ondo State. The development has also brought about queues at some filling stations in parts of the two states, as motorists feared the prices could go even higher.
It was earlier reported that a visit to a Nigerian National Petroleum Company Limited (NNPCL) mega filling station in the Central area of Abuja on Tuesday confirmed that the fuel price had been adjusted from N539 to N617 per litre.
Also, a customer who confirmed the development, was quoted as saying, “It is true, I just bought at N617 per litre,”
However, the NNPCL has not stated the reason for the current fuel price upward review but it is believed that the increase is reportedly not unconnected to the recent projections by oil marketers that fuel price will hit N700 per litre soon.
But the Nigeria Midstream and Downstream Petroleum Regulatory Authority (NDMPRA) has not commented on the development at the time of filing this report.
This is coming amid steady rise of inflation rate in the country with headline inflation maintaining a progressive increase rising to 22.79% in June 2023 from the 22.41% recorded in May 2023.
