Fuel Queue
By Our Reporter
The Nigerian National Petrol Company Limited has confirmed it adjusted pump prices of Premium Motor Spirit better known as petrol across the country.
In a statement issued on Wednesday and signed by its Chief Corporate Communications Officer, Garba Deen Muhammad, the national oil company explained that the adjusted pump price was in line with “current market realities”.
Recall that NATIONAL WAVES had earlier reported that price had been increased across the country.
This was less than 24 hours after President Bola Tinubu declared an end to fuel subsidy, the pump price of petrol skyrocketed to N600 per litre from N195/l in many parts of the country.
The development equally triggered a 100 per cent hike in transport fares, while long queues resurfaced at fuel stations across Lagos, Abuja, Ilorin, Benin, Asaba, Port Harcourt, Kano, Makurdi and other major cities and urban areas.
A document that allegedly emanated from the NNPC showed the latest cost of PMS in various states and the Federal Capital Territory.
But confirming the price hike, the NNPC said it adjusted the pump prices of PMS across its retail outlets in line with current market realities.
The statement read, “As we strive to provide you with the quality service for which we are known, it is pertinent to note that prices will continue to fluctuate to reflect market dynamics.
“We assure you that NNPC Limited is committed to ensuring a ceaseless supply of products.
“The company sincerely regrets any inconvenience this development may have caused.
“We greatly appreciate your continued patronage, support, and understanding during this time of change and growth.”
