Barely 48 hours after President Bola Tinubu declared an end to petrol subsidy regime, the Nigerian National Petroleum Company Limited (NNPCL) has increased the pump price of Premium Motor Spirit (PMS) otherwise known as petrol in it filling stations across the country.
Checks by ARMADANEWS on Wednesday, revealed that the NNPCL, which currently is the only importer of PMS has adjusted its fuel meters to reflect the new pump prices, which took effect on Wednesday, May 31.
One of NNPCL’s petrol stations in Omole area of Lagos state
The price adjustment reflected on the new price template which the NNPCL reportedly sent to marketers in its franchise on Wednesday.
The new pump prices of petrol released by NNPCL range between N488 and N557 a litre depending on place of purchase.
For instance, the new pump price of petrol at NNPCL retail outlets in Lagos is N488, whereas it is now goes for N500 a litre in other South West states.
In the South – South, the product is now sold at between N511 and N520 a litre, while a litre of PMS is now sold at between N515 and N520 a litre in the South-East region.
Consumers in the North-East, North-Central and North- West will pay more as prices per litre now range between N537 and N557.
The new price template for other oil marketer is being awaited.
BELOW IS THE NNPCL PRICE TEMPLATE:
