The Nigerian National Petroleum Company Limited (NNPC) has increased the price of Premium Motor Spirit (PMS) or petrol, from N855 per litre to N998 per litre across its retail outlets in Lagos.
This represents a 12.7 percent or N113 per liter increase from the price it sold as at yesterday.
The price increase kicked in early this morning, catching motorists off guards.
Recall that upon the commencement of its lifting petrol from the Dangote refinery on September 15, the NNPCL had released a new price template for petrol which put petrol price in Lagos at N950.22 per liter.
Credit: The Nation
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