CITIZENS COMPASS–A fresh increase in price has hit Premium Motor Spirit (PMS) which now sells for N855 per litre across the country.
The Nigerian National Petroleum Company (NNPC) Limited on Tuesday morning announced the fresh increase in price to N855 per litre instead of N617.
NNPC Limited said the pump price of N855 was effective from Tuesday.
Reports from various quarters revealed that there was no uniformity in the pump price as some retail outlets sold the product between N950 and above.
Some social media users lamented that they have experienced the new increase in price of petrol.
A trending video of a petrol dispensing machine displaying the new pump price and accompanied by a voice note which said, “@Osadone, Latest news, N855, NNPC, Awolowo Road, Ikoyi.”
An X user by name, HonDINO, posted thus, ” Nigerians!! I do hope that your Hopes have been Renewed? Please try not to complain after all fuel is still cheaper in Nigeria than UK. Peter Obi will never be president 😂😂😂
This is to inform you that NNPC Retail Management has approved upward review of PMS pump price from N617/itre to N897/liter effective today, 3rd September. 2024.
Please ensure all your pumps and totems (price boards)/MIDs reflect the new PMS price of N897/liter.
The development followed the recent announcement by NNPC Limited that the scarcity of the product had thrown the company into huge debts.
The increase in price of petrol has been generating reactions from various quarters.
The Chief Communications Officer of the company, Mr Olufemi Soneye, has debunked the increase in price of petrol via a telephone conversation.
