A fuue marketer has explained the reason for the increase in the pump price of fuel at NNPC filling stations.
The Nigerian National Petroleum Company Limited, NNPCL, has once again increased the pump price of the Premium Motor Spirit, PMS, also known as petrol to N1,030 per litre.
This latest development was observed by our correspondent at some NNPCL outlets in Abuja on Wednesday.
A marketer said the increase was as a result of the decision to stop being the sole off-taker of fuel from Dangote Refinery.
“The price of fuel has gone up because NNPC is no longer the sole off-taker of petrol from Dangote Refinery. That s why the price has gone up”, said a petrol marketer.
Our correspondent reports that the recent development is coming on the heels of the decision of the NNPCL to terminate its exclusive purchase agreement with Dangote Refinery.
The implication is that the NNPCL will not be the sole off-taker, and marketers can now negotiate prices directly with Dangote Refinery.
In Abuja, the Federal Capital Territory, FCT, the product was previously sold for N897 per liter.
It was further gathered that in Lagos, fuel which previously sold for N885 per litre, is now being sold at N998
