The Nigerian National Petroleum Company Limited (NNPCL) outlets in the Federal Capital Territory (FCT), Abuja have increased the pump price of petrol to N1,030 per litre.
It was observed Wednesday that NNPCL outlets in parts of the nation’s capital Abuja adjusted the pump price of petroleum to N1,030.
TheHintsNews reports that the new increment was sequel to the decision of NNPC to terminate its exclusive purchase agreement with Dangote Refinery.
Checks revealed that the NNPC will no longer be the sole off-taker, and marketers can now negotiate prices directly with Dangote Refinery.
This development aligns with the current practices for fully deregulated products, where refineries can sell directly to marketers on a willing buyer, willing seller basis.
Sadly, since the recent increase of fuel price, Motorists hav head to queue for several hours to buy fuel from petrol stations.
The increase in pump price has not in anyway ease the problem of buying fuel from petrol stations without stress.
