The Nigerian National Petroleum Company Limited (NNPC) has began selling PMS popularly called petrol for ₦1,030 per litre as against N897 in Abuja, marking a 14.8% hike.
This increase occurs for the second time within the last month, following a previous rise in September, when the price surged from ₦615 to ₦897 per litre.
Fairview spoke with a motorist who confirmed the increase which to him is shocking despite the ongoing economic difficulties being faced by the country.
“I just went to buy fuel only to see the new price. I thought we were no longer importing fuel. This one is even NNPC price ooh” Mubarak, a motorist said.
The increased fuel price comes as NNPCL ends its exclusive purchase contract with Dangote Refinery, as well as complaints from independent marketers on their inability to purchase from the oil corporation due to its inactive portal.
Independence marketers have now been given freedom to purchase petrol directly from Dangote refinery as well as negotiate prices.
It is unknown the reason for the increased fuel price, as the Federal Government had promised to provide Dangote Refinery with crude oil in naira, thereby reducing its cost price.
There is no reason better than selfish interest and to paint dangote refinery black