PETROLEUM MARKETERS GIVE REASON FOR LATEST INCREASE IN FUEL PUMP PRICE 

Petroleum marketers revealed that the Nigerian government has completely removed the subsidy on petrol which is the reason for the latest increase in the price of the product to 1,030 Naira and 998 Naira per litre in Abuja, and Lagos State by the Nigerian National Petroleum Company Limited, NNPCL.

The spokesperson of the Independent Petroleum Marketers Association of Nigeria, CHINEDU UKADIKE, who disclosed this to newsmen, was reacting to the latest fuel price hike across NNPCL outlets.

However, UKADIKE added that NNPCL and Dangote Refinery are yet to release their petrol former depot prices, which will determine whether marketers will sell the product.

The NNPCL retail outlets yesterday adjusted their fuel pump price from 897 Naira  per liter to 1,030 Naira barely weeks after it increased its fuel pump price to 897 Naira per liter from 617 Naira.