The price of Premium Motor Spirit (PMS), popularly known as Petrol on Tuesday jumped to N617 per litre, in Abuja, The Informant247 learnt.
It was gathered that an NNPC filling station along the Kubwa expressway, Abuja, has adjusted price from N539 to N617 per litre.
This is coming amid speculation of an upward review of fuel pump prices in the country.
Meanwhile, the Nigeria Midstream and Downstream Petroleum Regulatory Authority (NDMPRA) is yet to make an official statement in this regards as of the time of filing this report.
It could be recalled that on the removal of fuel subsidy in June by President Bola Ahmed Tinubu, the product had skyrocketed from N190 per litre to over N500 per litre.
Speaking to newsmen in an interview on Tuesday, the National President of the Independent Petroleum Association of Nigeria (IPMAN), Elder Chinedu Okoronkwo, confirmed the development, saying the fuel prices will continue fluctuating depending on market forces.
He said, “That is the regime we are in with removing fuel subsidies. The prices will continue to fluctuate based on market forces and the changes in Dollar in the foreign exchange market. That is why we are pushing for an alternative to fuel.”