Subsidy: Fuel Price Climbs To N617 Per Litre

The price of Petrol has increased to about N617 per litre.

The Nigerian National Petroleum Company Limited (NNPCL) has further jerked up pump prices of Petrol from 537 to 617 naira Per Litre.

Recall that in May a day after President Tinubu was sworn into Power the Nation’s Apex Petrol station increased the fuel price from N195 per litre to 537 per litre.

The development was occasioned by Tinubu’s inaugural speech, where he said fuel subsidies would be removed.

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On Tuesday morning in response to the new price, NNPC filling stations in Abuja witnessed brief queues, particularly the one located along Murtala Mohammed Express road, Kado remained shut for some few hours as the Petrol attendants has to adjust their fuel pumps to reflect the new price of 617 naira.

A visit to an NNPC filling station in the Central area of Abuja by this reporter confirmed that the fuel price has now been adjusted from N539 to N617 per litre.

The immediate reason could not be ascertained but it is not unconnected to the recent projections by oil marketers that fuel price will hit N700 per litre soon.