Stephen Ukandu, Umuahia
After weeks of scarcity and high cost of premium motor spirit, PMS, the Federal Government has officially increased the pump price of petrol to N185 per litre.
Petrol before the latest increase sold for N170 per litre, thus showing 8.8% increase.
The ex-depot price also shot up from N148 per litre to N167.
Before the official price hike petrol sold for between N300 and N400 but during the festivities.
The new pump price was contained in a notice by the Federal Government to marketers on Thursday.
Investigations revealed that a number of petrol stations especially those belonging to the Major Marketers Association of Nigeria, MOMAN, have already adjusted their pumps in line with the new price.