Fuel price in Nigeria rises to N617
The price of petrol has increased across cities in Nigeria, with commuters paying above N600 from around N540 per litre of fuel.
This comes just after the ex-depot price of PMS increased following the purchase of new stock.
Earlier in June, the national operations controller, Independent Petroleum Marketers Association of Nigeria (IPMAN), confirmed that the prices will further increase following the price increase in ex- depot.
Ex-depot price is the rate marketers buy products at the fuel depot which often determines the price at which they sell to motorists.
The Nigerian National Petroleum Company Limited (NNPCL) adjusted the price of PMS to N617 per litre across its fuel service stations in Abuja on Tuesday.
At the NNPCL fuel stations in Ushafa and one of its mega stations at Durumi areas of Abuja, pump price had been adjusted to N617 per litre.