NNPC announces increase in petrol pump price from today

The Nigerian National Petroleum Limited has approved an upward review in the pump price of Premium Motor Spirit from N165 per litre to N179 per litre, effective today (Tuesday)

In a notice to fuel marketers, it directed them to change the petrol price on pumps to the new price effective today.

This was even as the company equally increased the ex-depot price from N148.17 to N167 per litre.

It would be recalled that Daily Sun had exclusively reported on Monday the unofficial deregulation attempts by fuel retailers as they have adopted different price bands.

Findings by Daily Sun across some filling stations in Lagos revealed that majority of the filling stations have adopted different price models.

While some filling 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 litre but were selling above the displayed price

For instance, the Mobil filling station on Agidingbi sold a litre of petrol at N170 per litre on Friday and that was evidently 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 litre, Eterna filling station at Jankade Bus Stop, Lekki at N180 per litre and Mobil Filing station, by Osapa London, Lekki now selling at N170 per litre.

All the above three filling stations in Lekki have had the new prices reflected on their meters while the big board which normally have their prices displayed for motorists to see have equally been changed.

Daily Sun.