From Victor Osula, Abuja
After many weeks of hedging and denial, the Nigerian National Petroleum Limited approved an upward review in the pump price of Premium Motor Spirit from N165 per litre to N179 per litre, effective Tuesday, almost a litre different from the price most Lagos and Abuja residents have been buying the product for the past weeks of unending scarcity and queues at filling stations.
In a notice to fuel marketers, the petroleum market regulator directed them to change the petrol price on pumps to the new price beginning from Tuesday, just as it increased the ex-depot price from N148.17 to N167 per litre.
In addition, the NNPC set price differentials and templates for different zones and regions in the country, where the price regimes have even been subtly implemented before the official announcement. While some filling stations in Lagos for example, display the prevailing pre-price increase of N165 per litre, the dispensed quantity reflected either N175 or N180 in the meter reading between the erstwhile 12.5 litre for, say N2000 to N11.5 litre.
See New Price Regimes Across the country, below:
