Fuel Price Rises As Naira Continues To Weaken Against Dollar


The cost of Premium Motor Spirit (PMS), also known as gasoline, has increased as a result of the nation’s rising inflation and declining naira.
On Tuesday morning, Nigerians discovered that the cost of gasoline had changed at gas stations all around the nation, including those run by the Nigeria National Petroleum Company Limited (NNPCL).
The NNPC charged N565 in Lagos while some other stations charged more. They offered sales between N484 and N488 before the rise.
In Abuja, where at least two of the NNPC stations visited had raised their prices from N539 to N617 per litre, the product sells better.

Petrol is now being sold for N617 per liter in Jos, the capital of the Plateau State, up from N537 on Tuesday.
The substance was being offered at N620 per litre at a gas station in Dutse, the capital of Jigawa State, that Channels Television visited.
Filling stations were seen in Port Harcourt, the capital of Rivers State, selling gasoline for between N511 and N525 per litre. A throng of people jostled for the product at the NNPC retail location in the oil-rich state.
Since President Bola Ahmed Tinubu declared the end of the fuel subsidy on May 29, the price has increased a second time significantly.
At NNPC stores and several stations nationwide, the price had increased from less than N200 per litre to the N500 level.

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