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The Nigerian National Petroleum Corporation (NNPC) has increased the pump price of petrol at its retail outlets by N4 from N141 to N145 per litre.
Daily Trust reports that the price which have been N141 in last few months, was raised to N145 on Tuesday.
Before now, prices have been hovering between N143 and N141 per litre at NNPC and affiliate stations in major cities.
However, the new N145 price remains within the maximum price cap fixed by the federal government in May.
In Kano and Lagos, reports have it that the price of fuel has hit N145 per litre at NNPC Mega stations.
Spokesman for the NNPC Garba Deen Muhammad was quoted as saying that there was no rule that compels any marketer including the NNPC to sell at a particular price.
“A price regime was introduced between N135 and N145. So, you can sell anywhere within that range. What you are seeing is interplay of market forces.