By Malik Dauda
The pump price of Premium Motor Spirit (PMS), otherwise known as Petrol, has increased to about N617 per litre.
It was gathered that the product, which was earlier sold for N539, has increased to N617 per litre at NNPC filling stations.
The reason behind the increase in the petrol price has yet to be ascertained as of the time of filing this report.
The Independent Petroleum Marketers Association of Nigeria (IPMAN) had earlier denied the alleged plan by the association to increase the pump price of petrol to N700 per litre nationwide.
IPMAN urged Nigerians to disregard the speculation and not to engage in panic buying, stressing that the price of the product would not be increased.