Following what is thought to be a covert deal between Federal Government officials and oil marketers, Premium Motor Spirit, more commonly known as would now be sold between N170/litre and N190/litre in filling stations across the nation.
The Nigerian Midstream and Downstream Petroleum Regulatory Authority met with oil marketers on Thursday, which led to the development.
It was decided to raise the price of gasoline at the pump by N10 per litre, according to sources with knowledge of the meeting.
According to a market study conducted on Sunday, some gas stations in Lagos had pricing display boards that showed new rates beginning between N170 and N175 per litre.
However, some other filling stations sold above these prices, with some selling as high as N185/litre.©Standard Gazette, 2021. Unauthorized use and/or duplication of this material without express and written permission from this site’s publisher is strictly prohibited. Excerpts and links may be used, provided that full and clear credit is given to Standard Gazette with appropriate and specific direction to the original content.