The Nigerian National Petroleum Commission (NNPC) has approved a new price for Premium Motor Spirit (PMS).
The price has been increased from N165 per liter to N179 per liter after the company had increased the ex-depot price from N148.17 to N167 per liter.
NNPC had notified fuel marketers about the new development and also directed them to change their pump price to the new price effective from today Tuesday.
This new development emanated after weeks of fuel scarcity resurfaced across the country leading to marketers selling at different prices due to unofficial deregulation attempts.
It was gathered by the Guardian that the majority of petrol stations in Lagos have adopted different price models. While some petrol stations have changed the price on their meters to reflect the current price they are selling at, others have left theirs to show the approved retail price of N165 per liter but we’re still selling above the displayed price.
For instance, the Mobil filling station on Agidingbi sold a liter of petrol at N170 per liter on Friday and that was displayed on their meters.
The development was also the same at Enyo filling station at Chisco bus stop, in Lekki, which now sells for N170 per liter, Eterna filling station at Jankade bus stop, Lekki sells at N180 per liter and Mobil Filling station, by Osapa London, Lekki now selling at N170 per liter.