The Federal Government has approved an increase in the price of Premium Motor Spirit (PMS), commonly known as petrol, from N568 per liter to N898 per liter. The price hike coincides with the anticipated launch of petrol production by Dangote Refinery, scheduled for today.
pathwaynews investigation at major filling stations revealed that petroleum marketers have widely complied with the new pricing. For instance, at the Mobil filling station in Abule Egba, the pump price jumped from N518 per liter on Monday to N865 per liter on Tuesday.
Several marketers confirmed to pathwaynews that they received official directives to implement the price increase.
