The Nigeria National Petrol Corporation Limited NNPC, has denied plans to increase the petrol pump price to N712.
Over the weekend, Oil marketers said that if the dollar continues to trade at N910 to N950 at the parallel market, the cost of Premium Motor Spirit, popularly called petrol, would rise to between N680/litre and N720/litre in the coming weeks.
NNPC disclosed this in a statement posted on its social media handles on Monday.
“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.”