Nigerian National Petroleum Company Limited, NNPCL, has again increase the pump price of the Premium Motor Spirit, PMS, also known as petrol to N1,030 per liter.
The development was observed at some NNPCL outlets in Abuja the federal capital city on Wednesday.
The recent development came after the NNPCL decided to terminate its exclusive purchase agreement with Dangote Refinery.
By this action, the NNPCL will no longer be the sole off-taker, and marketers can now negotiate prices directly with Dangote Refinery.
In the Federal Capital Territory, FCT, the product was previously sold for N897 per liter at NNPCL outlets
Our reporter further gathered that in Lagos, fuel which previously sold for N885 per liter, is now being sold at N998 amid long queues.
