There are strong indications that the Nigerian National Petroleum Company Limited(NNPCL) has increased its pump price of petrol to N855 per litre.
Thefrontrank reports that this is coming on the day Dangote Refinery rolled out its first set of PMS from its 650,000 barrels per day facility.
NNPCL on Tuesday changed the pump prices, from N650 to N855/litre.
It was learnt that there was a directive to the retail outlets to increase petrol prices.
The directive announced that the NNPC Retail Management has approved an upward review of PMS pump prices.
On Sunday, the company admitted it was having challenges to import fuel due to an $8bn debt.
The spokesperson for the NNPCL, Olufemi Soneye, is yet to comment on the development.
