The Nigerian National Petroleum Company Limited (NNPCL) has addressed circulating rumours of a new increase in fuel prices, affirming that the pump price of Premium Motor Spirit (PMS) has not changed.

NNPCL spokesperson Olufemi Soneye stated, “There is no increase in gasoline price that I am aware of,” countering speculation that prices had risen from N1,030 to N1,060 per litre in Abuja.

Chinedu Ukadike, spokesperson for the Independent Petroleum Marketers Association of Nigeria, echoed Soneye’s sentiments regarding NNPCL’s ex-depot prices, stating, “NNPCL still sells to us at the same price.”

He noted, however, that independent marketers are currently facing a fresh price hike. “For Port Harcourt, it is N1,040 per litre; Abuja and Lagos are around N990 per litre,” he added.

This clarification follows an earlier price increase by NNPCL on 9 October 2024, when petrol was raised to N1,030 per litre.

The comments come at a time when the President of Dangote Group, Aliko Dangote, has expressed concerns about petroleum marketers overlooking the company’s refinery capacity of 500 million litres of fuel.