The Nigerian National Petroleum Company Limited (NNPC Ltd) has increased the pump price of petroleum products across its outlets nationwide.
This is coming barely two months after the company jerked up the pump price of the products from N617 to N855 per litre.
TheFact Daily observed that the pump price was adjusted to N1,030 in Abuja, and N998/litre in Lagos State on Wednesday.
Although the company is yet to speak on the matter, as all the calls put across to seek clarifications were not answered. However, it has consistently started that the price of the product is now controlled by market forces since the industry is currently operating a deregulated market.
Recall that the national oil company recently quit its middleman role in the Dangote refinery, opening up the market for other marketers to buy petrol directly from the refinery.
A development many industry experts believe aligns with the current practice for fully deregulated products, where refineries can sell directly to marketers on a willing buyer, willing seller basis.
