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Breaking: Petrol pump price now N170 per litre

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In less than two months the Independent Petroleum Marketers Association of Nigeria (IPMAN) on Friday increased the price for PMS from N160 per litre to N170.

IPMAN has directed marketers to sell the Premium Motor Spirit (PMS) for N170 per litre immediately.

The instruction followed Thursday’s night announcement of N155 .17 ex-depot price to the marketers.

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IPMAN National Vice President, Alhaji Abubakar Maigandi, said: “The PPPMC last midnight told us that the ex-depot price is now N155. 17 per litre. We have directed our marketers to sell for N170 per litre.”

He also noted the price will still depend on the forces of demand and supply.

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NNPC had not announced the price for two months because, according to it, the announcement always generates issues.

The new pump price is.exected to hike the cost of transportation ahead of next month’s Christmas yuletide.

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