The Nigerian National Petroleum Company (NNPC) Limited discussed the idea of raising the price of petrol on Friday.
According to rumours, the landing price of Premium Motor Spirit, also known as gasoline, increased from N651 to N720 per litre.
The landing cost of fuel has jumped to N720/litre, and many petroleum product depots are currently empty as a result of a dearth of supplies brought on by foreign exchange rate volatility.
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Dealers in petroleum products claimed that a significant number of filling stations were closing every day due to the difficulty of operating the business. They claimed that in the upcoming months, there might be a widespread fuel shortage.
The discovery increased the likelihood that the petroleum product’s pump price would increase dramatically during the following few days.
However, the story was refuted by NNPC in a statement posted on X (formerly known as Twitter).
The management of the corporation declared that it has no plans to raise the price of petrol.
Nigerians were urged by NNPC to shop at their stations for the highest-quality goods at the lowest possible costs.
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The statement reads, “Dear esteemed customers, we at NNPC Retail value your patronage, and we do not have the intention to increase our PMS pump prices as widely speculated.
“Please buy the best-quality products at the most affordable prices at our NNPC Retail Stations nationwide.”
The elimination of gasoline subsidies at the beginning of the year caused the price of petrol to rise, which in turn raised the cost of goods across the nation.
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