The Nigerian National Petroleum Company Limited (NNPC) has increased the price of Premium Motor Spirit (PMS) or petrol, from N855 per litre to N998 per litre across its retail platforms in Lagos.
This represents a 12.7 percent or N113 per liter increase from the price it sold as at Tuesday.
The price increase kicked in early this morning, taking motorists off guards and compelling them to grapple yet with additional cost burden.
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The Daily Crucible reports that when it commenced lifting of petrol from the Dangote refinery on September 15, the NNPCL had released a new price template for petrol which put petrol price in Lagos at N950.22 per litre.
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