The Nigerian National Petroleum Company (NNPCL) has clarified that it will not increase the price of Premium Motor Spirit (PMS) in its retail outlets.
The national oil company made this known in a statement on Monday night.
The company in a statement by its spokesman, Muhammad Garbadeen, urged Nigerians to disregard speculations of a fresh hike in the price of the product.
“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 statement said.
The Nigeria Labour Congress (NLC) president Joe Ajero had on Monday, while reacting to news of the purported price increase, warned that another fuel price hike would lead to an indefinite nationwide shutdown.
NNPCL had increased petrol prices for two consecutive times since the removal of the petrol subsidy on May 29, 2023, by the Federal Government.
Nigerians have in the last two months been grappling with the sudden jump in the price of petrol, given the spillover effect on costs of transport, energy, and food among others.
The price rose from N184 to N500 on May 30 and in July, the price jumped from N500 to over N617.
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