Independent oil marketers in Nigeria have hiked the pump price of Premium Motor Spirit (PMS), commonly known as petrol, to between ₦900 and ₦1,000 per litre.
This comes amid growing frustration over the disparity in fuel prices, as stations operated by the Nigerian National Petroleum Company (NNPC) continue to sell petrol at much lower prices, ranging from ₦568 to ₦617 per litre.
The significant price gap has led to long queues at NNPC stations, where consumers hope to buy petrol at more affordable rates.
However, independent marketers have defended their decision, claiming that they are forced to purchase petrol from private depots at exorbitant rates, sometimes as high as ₦850 per litre.
One independent marketer who spoke with Punch stated, “We’ve been buying petrol from private depot owners at these high prices since last week, and that’s why our pump prices have increased accordingly.”
In response, the Federal Government has vowed to clamp down on filling…