The Nigerian National Petroleum Company Limited, NNPCL, has increased the pump price of petrol to N1,030.00 per litre in its stations in Abuja on Wednesday.
The increase is from N897 per litre.
It was gathered that the new price followed the termination of the exclusive purchase agreement between NNPCL and Dangote refinery.
With the termination of the agreement, other marketers can buy petrol directly from Dangote refinery.
With the full deregulation, buying and selling between refineries and marketers are on the basis of willing buyers and will sellers.
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