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Nigerian oil marketers, on Wednesday, confirmed the increase in the pump price of Premium Motor Spirit popularly called petrol to over N500 per litre depending on the location of purchase.

According to a document that allegedly emanated from the Nigerian National Petroleum Company Limited, which contained figures that were described as the “Current NNPC Pump Price”, and “New Pump Price Per May 31, 2023,” of petrol, showed the latest pump price of PMS in all states and the Federal Capital Territory.

It was learned that the figures in the document indicated that the prices in Lagos, Abuja, Enugu and Ekiti were outlined as N488 per litre, N537 per litre, N520 per litre, and N500 per litre respectively, while the cost of petrol in Borno State was put at N557 per litre.

Although officials of NNPCL and the Nigerian Midstream and Downstream Petroleum Regulatory Authority kept mute about the document when contacted, oil marketers confirmed to newsmen that the document was authentic.

Billy Gillis-Harry, the President of the Petroleum Products Retail Outlets Owners Association of Nigeria, while confirming the development, said the document is true, which means the cost of petrol had been increased to over N500 per litre in various states by the NNPCL.

When asked about the authenticity of the document on the new pump price of petrol, purportedly issued by the NNPCL to oil marketers was true, Gillis-Harry replied, “Correct.”

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