The price of Petrol has increased to about N617 per litre as at Tuesday, 18th July 2023.
Nigerians woke up to a rude shock on Tuesday morning to see that various filling stations, especially those owned by the Nigerian National Petroleum Company Limited (NNPCL) have adjusted their pumps from N537/litre to N617/litre, showing an N80 hike.
While no reasons were immediately adduced for the hike, reports say it was partly due to the free fall of naira since it was floated, shortly after President Bola Ahmed Tinubu assumed office.
A visit to an NNPC filling station confirmed that the fuel price has now been adjusted from N539 to N617 per litre.
Nigeria’s have taken to microblogging platform; twitter to vent their anger over the new development with several users confirming the new pump price.
The immediate reason could not be ascertained but it is not unconnected to the recent projections by oil marketers that fuel price will hit N700 per litre soon.
The Nigeria Midstream and Downstream Petroleum Regulatory Authority (NDMPRA) is yet to make any official statement to this effect.