There are strong indications that the Nigerian National Petroleum Company (NNPC) Limited may have increased the pump price of premium motor spirit (PMS) popularly called petrol as its retail outlets, particularly in Lagos, on Tuesday adjusted their prices from N617 to N855 per litre.
Motorists who went to buy petrol at petrol stations owned by NNPC were stunned to find that the price had changed to N855.
This is even as long queues have become a permanent feature at most petrol stations across the country, amidst scarcity of the commodity.
The NNPC Limited had a few days back admitted to challenges in importing petrol due to an $8 billion debt.
In Abuja, other retailers had also increased their pump price to between N880 and N950.
A.A Rano petrol stations in Abuja increased the pump price for petrol to N880 per litre on Tuesday, while Azman petrol station is selling the commodity at N950 per litre.
In Kano State, the pump price of the commodity was increased to N904 per litre at NNPC retail outlets while other petrol stations were selling at N1,200 per litre.
There was no official announcement from the NNPC Limited at the time of filing this report.
