The Nigerian National Petroleum Company (NNPC) Limited has said it has no plan to increase petrol pump prices as speculated.
NNPC Ltd disclosed this in a post on X (formerly Twitter) on Monday.
“Dear esteemed customers, we at NNPC Retail value your patronage, and we do not have the intention to increase our PMS pump prices as widely speculated. Please buy the best quality products at the most affordable prices at our NNPC Retail Stations nationwide,” the company said.
Last week, some media platforms reported that a price increase on the pump of the product due to the incessant devaluation of the naira would lead to an increase in pump price.
Also, on Monday, oil marketers reportedly said the price of petrol would rise to between N680/litre and N720/litre in the coming weeks if the dollar continues to trade from N910 to N950 at the black market.
Yesterday, the acting governor of the Central Bank of Nigeria (CBN), said the rise in the dollar rate in the parallel market was not driven by market forces but a purely speculative affair.
