Oil marketers, however, told our correspondent that the Federal Government might be using the document to test the reaction of the public as touching an official hike in petrol price. The document, entitled, “PMS Pump Price Adjustment,” described the government-approved N165/litre price of petrol as “old price,” as it went further to outline the new rates for the commodity in different regions of Nigeria. For the South-West, North-West, North-East and South-South, it outlined the new PMS pump prices per litre in these regions to be N179, N184, N189 and N179 respectively. On the section captured as “PMS Ex-depot Price Adjustment”, the document stated that while the old ex-depot price was N148.17/litre, the new rates in Lagos, Warri/Ogharra and Port Harcourt were now N160-N162/litre, N162-N165/litre and N165-N167/litre respectively. It has also failed to sanction filling stations selling above government-approved N165/litre price.

Source: Punch July 20, 2022 08:14 UTC