Just in: Panic buying as NNPC adjusts fuel pump price to N617/litre
The pump price of petrol has been increased to about N617 per litre.
Already, the NNPC filling station in the Central area of Abuja on Tuesday morning confirmed that the fuel price had been adjusted from N488 to N617 per litre.
There was panic buying on Tuesday at many independent filling stations in Lagos and other places where fuel was still being sold a little above N500 per litre.
The immediate reason could not be ascertained but it is not unconnected to the recent projections by oil marketers that fuel price will hit N700 per litre soon, according to a Daily Trust report.
The Nigeria Midstream and Downstream Petroleum Regulatory Authority (NDMPRA) is yet to comment on the issue.
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