ABUJA – Despite speculations that the fuel price increase announced by President Bola Tinubu on Monday will take time to be worked out, the Nigerian National Petroleum Company (NNPC) Limited has on Wednesday morning instructed all marketers to adjust retail prices for the premium motor spirit to a range between N488 to N555 per litre.

The instruction which hit marketers early today cited management approval of the upward review of the NNPC PMS pump price table for Mega/Standard/Leased Stations.

The new table of retail prices for different geopolitical zones of the country to be effected by retail managers was instructed to take immediate effect beginning from May 31, 2023.


“Please implement meter change as approved effective today 31st May 2023. Wayne is to attend to all locations as relates to their area of coverage in our network,”


According to the new price schedule, petrol will sell highest in Maiduguri and Damaturu at N557 per litre, and N550 per litre in the rest of the Northeast zone.

Birnin Kebbi will buy petrol at N545 to lead prices in the Northwest zone. The average price in the North Central zone will be N537 per litre except in Illorin where it will sell for N515 per litre. Consumers in the Southeast will buy at an average of N520 per litre.

Apart from Uyo and Yenegoa where petrol will now sell at N515 per litre, the rest of the Southsouth zone will get the product at N511 per litre.

Consumers in Lagos will buy the product at N488 per litre while the rest of the Southwest zone will get the product at N500 per litre.

iwaeda:

https://independent.ng/just-in-nnpc-increases-fuel-price-to-n555-per-litre/

nairalanda1:
Good
End of the subsidy looterocrat regimen.

Standing5:
what!

iwaeda:

The One on diesel, kerosene, cooking gas and aviation, what are the effects?

nairalanda1:


All wrecked by the losses made from subsidising petrol.

You have to.make a.profit selling refined products

Oga, i am.no apc or pdp fan. And as far as i know apc should have been voted out this time.

Standing5:
Inflation and caos about to be triggered by fiscal indiscipline.

Standing5:
who owns the profit making organisation (NNPCL) in this case? The generality of the people or those in power? So you support increase in price against yourself.

nairalanda1:


All wrecked by the losses made from subsidising petrol.

You have to.make a.profit selling refined products

Oga, i am.no apc or pdp fan. And as far as i know apc should have been voted out this time.

iwaeda:

So all those ones are not refined products from crude.

nairalanda1:


Paying for subsidy was already causing inflation via deficits in the budget and debt spending to pay for them deficits

There is a reason why goverments since IBBs time have been calling for subsidy removal

CuriousCart:
Foodstuffs, transportation and gadgets are warming up now. We go hear am.

iwaeda:

How much fuel do we consume, nobody knows? How many times have you filled your tanks since fuel was above N100?

nairalanda1:


Paying for subsidy was already causing inflation via deficits in the budget and debt spending to pay for them deficits

There is a reason why goverments since IBBs time have been calling for subsidy removal

nairalanda1:


Reinstate subsidy then.

I left that nonsense since 2011.

Mr lafta.

LiteratureClass:
Who will save private school teachers now? The transport fee is more than the salary now!

hisexcellency34:
This one will be worse than #OccupyNigeria

LiteratureClass:
Who will save private school teachers now? The transport fee is more than the salary now!