Today's Trending

NNPC stations increase fuel pump price

It was gathered that the Nigerian National Petroleum Corporation (NNPC) has jerked up pump price of petrol at its retail outlets.

NNPC

Petrol was hitherto sold to the public at N141 at NNPC mega stations and the company’s affiliates across Nigeria.

[pro_ad_display_adzone id=”60438″]

It would be recalled that the federal government fixed petroleum at maximum price of N145 in May.

The NNPC, however, dispensed at N141, saying it was in line with making the product affordable.

But since Tuesday November 1, NNPC mega stations started selling at N145.

The increment was noticed in some parts of Kano, Abuja, Lagos and Ogun states.

Reacting, NNPC Group General Manager, Group Public Affairs, 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,” he said.

NNPC recently moved to douse tension on alleged plan to increase fuel price.

Group Managing Director, Crude Oil Marketing of the corporation, Mele Kyari, had earlier stated that the sale of petrol at N145 per litre was no longer feasible with the current foreign exchange.

The corporation’s spokesman, Garba-Deen Muhammad, swiftly issued a rejoinder, assuring that no increment was being considered.

3 Comments on NNPC stations increase fuel pump price

  1. Na wa ooo

    Like

  2. Despite this condition we are in

    Like

  3. Truth be told. // November 4, 2016 at 5:41 pm // Reply

    Hahaha,ok na..all is well

    Like

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: