Petrol Price Hits N1,000 Per Litre In Abuja As Queue Returns

Scarcity of Premium Motor Spirit (PMS) also known as fuel has hit the Federal Capital Territory (FCT) as a litre is being sold for N1000.

This is coming barely 24 hours after the Nigerian National Petroleum Company Limited (NNPCL) denied the return of subsidy on the product, most filling stations were locked yesterday, as long queues were seen at the few that were dispensing fuel to motorists.

The development, which followed the meeting of marketers with the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), black marketers, who are retailing the products in kegs, also returned to sell for N1,000 per litre.

OSUN DEFENDER learnt that prices have also gone up at the pump, as most independent retailers were selling at N625 per litre, while NNPCL was dispensing at N613.

This came weeks after President Bola Tinubu said there would no longer be increase in pump price of petrol, despite the deregulation of the downstream market, adding that the present petrol price would remain.