The price of Premium Motor Spirit (PMS), popularly known as petrol, has jumped to N617 per litre overnight.
TheNewsGuru.com (TNG) reports a visit to a fuelling station owned by the Nigerian National Petroleum Corporation (NNPC) Limited in Abuja reveals this development.
Petrol, which used to sell for N539 per litre has now been adjusted to N617 per litre, a visit to the fuelling station located in the heart of the Federal Capital Territory (FCT) reveals.
Most fuelling stations in the FCT have followed suit and adjusted their pump prices to between N617 and N620, but AA Rano, Nipco in Jabi are still selling at the old price.
In Maitama, Wuse, Gwarimpa, Jabi, Wuye and Kubwa areas of the FCT, long queues were observed at petrol stations still selling at the old price.
A fuel attendant who refused to be named said that they would adjust their pump price before the end of the day.
A customer who confirmed this development, Mr Emma Uzor, described the development as terrible.
“We are still battling with the new price and within two months they increased it again. This is not fair to the masses.
“No information or reasons for the increment, how do they want the poor masses to survive? The salaries have not been increased and food prices have risen.
“The government should go back to their drawing board and come up with favourable conclusion for the citizens,” Uzor said.
TNG reports no immediate reason has been given for this hike in fuel price by the authorities.
However, it has been speculated that the price of petrol will now be dictated by market forces, following the removal of fuel subsidy payments.
Recall that in May, a day after President Bola Tinubu was sworn into power, NNPC increased the price of fuel from N195 per litre to 537 per litre, nationwide.
The development was occasioned by Tinubu’s inaugural speech, in which he said fuel subsidies would be removed.