All the oil markets in Nigeria has been ordered to reduce the price for premium motor spirit, PMS to 557 Naira per litre.
The Nigerian National Petroleum Corporation, NNPC Limited gave the order on Wednesday.
It was gathered that the order came following the management approval of the upward review of NNPC petrol pump price table for mega, standard and leased filling stations.
According to the NNPC order, all the oil marketers must adjust the retail price for premium motor spirit (PMS) to a range between N488 to N557 per litre across Nigeria.
It was also gathered that a new table containing the retail prices for the different geopolitical zones in the country was set to be implemented by retail managers with immediate effect.
The new price schedule reveals that petrol will be sold at the highest prices in Maiduguri and Damaturu at N557 per litre and N550 per litre in the rest of the Northern Zone of Nigeria.
It also shows that consumers in the South-East will buy at an average of N520 per litre, while the South-South Zone will get the product at N511 per litre, except in Uyo and Yenegoa, where petrol will now be sold at N515 per litre.
According to the list, the South-West Zone of the country will get the product at N500 per litre, except for consumers in Lagos, who will buy at N488 per litre.
- Kunnen Gari.
