Petrol Price Increases, Marketers May Sell at 170

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The price of Premium Motor Spirit (PMS) has increased with effect from today.

This has been disclosed by the National Operation Controller of Independent Petroleum Marketers Association of Nigeria (IPMAN), Mr Mike Osatuyi.

According to Mr Osatuyi, the ex-depot price of the product has been increased by 7 naira, and as such, the marketers could sell between 168 and 170 naira.

Meanwhile, the Minister of State for Petroleum, Hon. Timipre Sylva, had earlier stated that the government does not fix price for the product any longer, instead the price of the product determines itself.

The product price has witnessed recurring increment since June this year.

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