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Federal Government Quietly Increase Petrol pump Price To N185 Per Litre

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The Federal Government on Thursday quietly approved an increment in the pump price of petrol.

According to information circulated to marketers, a new regime of fuel prices was announced and immediately implemented by marketers.

The decision to adjust prices, according to insiders, is to encourage marketers to open up for business rather than the ongoing phased rationing causing scarcity, long queues and exploitation of Nigerians by independent marketers and black market operators.

Although the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) and NNPCL have remained silent on the development, the same pattern was deployed about six months ago when prices were adjusted to between N160 and N170 per litre.

In the message sighted by The Guardian, major marketers were informed of the changes across geographical zones. PMS is expected to sell for N185 per litre in Lagos, N190 within the Southwest, South South and North Central zones, N195 per litre in the South East, FCT and North West zones, while the commodity is expected to sell for N200 per litre in the North East.

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