Energy

Fuel prices intact – NNPC

The Nigerian National Petroleum Corporation (NNPC), says there is no plan to increase the prices of petroleum products both at the ex-depot level and pump price ahead of the forthcoming yuletide.

The corporation also insisted that the ex-depot petrol price of N133.38 per litre and the pump price of N143/N145 per litre have not changed, noting that the Corporation has enough stock of fuel to ensure seamless supply and distribution of products across the country.

The development was sequel to the resurface of fuel queues in some parts of the country due to the fear that the pump price of the product would be adjusted by the corporation

According to report, in Sokoto metropolis and its environs, fuel queues started weekend and worsened on Monday morning as motorists resorted to panic buying.

Some of the filling stations belonging to Independent Petroleum Marketers Association of Nigeria (IPMAN) have increased the price of a litre of petrol from N145 to N150 per litre.

At NNPC mega stations and other filling stations run by major marketers, the queues were longer, as they maintained the official price of N145 per litre but were reluctant to sell to motorists.

But the NNPC in a statement enjoining motorists and other users of petroleum products to disregard trending rumours of an impending fuel price hike in some online news platforms, the NNPC said it has the full commitment of all downstream stakeholders including petroleum marketers and industry unions to cooperate in achieving zero fuel scarcity this season and beyond.

It also advised motorists not to engage in panic buying or indulge in the dangerous practice of stocking petroleum products in jerry cans at home.

It noted that its downstream subsidiary companies namely the Petroleum Products Marketing Company (PPMC) and NNPC Retail Limited are fully geared up to ensure that motorists enjoy uninterrupted access to petrol throughout the nation.

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