The Petroleum Products Pricing Regulatory Agency (PPPRA) has explained the reason for the mix up in the purported fuel pump price hike last week.
The regulatory agency, which debunked rumours of a nationwide increase in the pump price of the Premium Motor Spirit (PMS), known as petrol, explained that what appeared on it’s website’s template was only a guiding price and not a new pump price.
The Agency stated that following the reactions of Nigerians over the published template, they (PPPRA) have promptly removed the information from its website.
According to the Agency, the N212.61 per litre of the product that was tagged at their website on the night of Thursday, March 11, 2021, was only a ‘guiding price’.
In a related development, the Nigerian National Petroleum Corporation (NNPC), in a release on its official Twitter handle, maintained its earlier statement in the month that there would be no fuel price increase in March, 2021.
According to the release, “There shall be no increase in ex-depot price of Premium Motor Spirit (PMS) in March.
Also the Pipelines Products Marketing Company (PPMC) has not notified marketers of any upward review of the pump price of the product.