NNPC declare untrue plans to hike petrol pump price

The Nigerian National Petroleum Company Limited (NNPCL) has reacted to rumours of a possible hike in the pump price of Premium Motor Spirit, popularly called petrol.

A post by the company’s official X (formerly Twitter) handle said it had no intention to increase the pump price of petrol.

It reads: “…We at NNPCL 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 NNPCL Retail stations nationwide.”

Oil marketers had on Sunday indicated that the cost of petrol would rise to between N680 per litre and N720 per litre in the coming weeks should the dollar continue to trade from N910 to N950 at the parallel market.

They also hinted that dealers seeking to import PMS were being forced to put the plans on hold due to scarcity of foreign exchange for importation of the commodity.

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