The Nigerian National Petroleum Company Limited (NNPC) has confirmed no reduction in the pump prices of Premium Motor Spirit (PMS) and Automotive Gas Oil (diesel).
Speculators had, in the last few days, reported a reduction in the pump prices by the national oil company, as they projected a drop in fuel price to N488 per litre in Lagos, N500 in other South West states and N537 in North Central states.
Although some marketers had told The Guardian that NNPCL commenced a direct sale of products to them, a development, which reduced the ex-depot price by about N48 per litre, compared to what they buy from private depot owners.
They had also noted that diesel sales would commence from the Dangote Refinery, stressing that the moves could slightly lower the pump prices by the independent marketers.
While the independent marketers cover the rural and suburban parts of the country where over 70 per cent of the population live, the gap between what the NNPCL retail outlets sell PMS and that of the independent marketers is about N60 per litre.
NNPCL, in a statement yesterday, dismissed the price adjustment rumours for petrol and diesel at its retail stations nationwide.
According to the company, Nigerians should disregard the information entirely.
