No plan to increase fuel price – NNPC

The Nigerian National Petroleum Corporation on Monday said it had no plans to increase the price of fuel.

It was reacting to fears about an imminent hike in the price of Premium Motor Spirit.

Independent marketers had in Saturday threatened to hike fuel price from N145 to N160.

Queues resurfaced at filling stations last weekend and lengthened on Monday.

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However, NNPC said in a statement by its Group General Mamager, Group Public Affairs Division, Mr. Ndu Ughamadu, that it was not contemplating such a move.

“The NNPC Group has once again emphasized that there is no plan to increase the prices of petroleum products both at the ex-depot level and pump price ahead of the forthcoming Yuletide.

“The NNPC Group in a release informed that the ex-depot petrol price of N133.38 per litre and the pump price of N143/N145 per litre have not changed noting that the Corporation has enough stock of fuel to ensure seamless supply and distribution of products across the country.

“While enjoining motorists and other users of petroleum products to disregard trending rumours of an impending fuel price hike in some online news platforms, the NNPC said it has the full commitment of all downstream stakeholders including petroleum marketers to NNPC Group and industry unions to cooperate in achieving zero fuel scarcity this season and beyond.

“The NNPC Group enjoined motorists not to engage in panic buying or indulge in the dangerous practice of stocking petroleum products in jerry cans at home.

“The Corporation noted that its downstream subsidiary companies namely the Petroleum Products Marketing Company (PPMC) and #NNPC Retail Limited are fully geared up to ensure that motorists enjoy uninterrupted access to petrol throughout the nation.”

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