By Glam & Essence
The Nigerian National Petroleum Company Limited, NNPCL, has increased the pump price of the Premium Motor Spirit, PMS, also known as petrol to N1,030 per litre,from the old price of N897.
The recent development came after the NNPCL decided to terminate its exclusive purchase agreement with Dangote Refinery.
As a result of this, the NNPCL will no longer be the sole off-taker, and marketers can now negotiate prices directly with Dangote Refinery.
Already, the change in fuel price has resulted in queues in fuel stations across the country, with price changes now being put in effect, despite the shortage of fuel being experienced.
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