Following the decision by the Federal government of Nigeria to discontinue the fuel subsidy scheme, the price of petrol, an essential commodity in the country, has continued to rise amid escalating inflation.
Shortly after President Bola Tinubu announced the removal petrol subsidy during his Inaugural speech on May 29, 2023, the price of the product jumped from around N145 to N537 per litre.
While Nigerians are yet to come to terms with the new price regime, motorists and other consumers of petrol in Abuja woke up to a further price increase on Tuesday.
Our correspondent reports that petrol stations in the federal capital Territory, including those of NNPC adjusted their fuel pumps to reflect a new price of N617 from N537 per litre.
The situation is not different In Ebonyi State, Southeast Nigeria, where residents are grappling with the latest price adjustment which was done in the early hours of Tuesday.
We hear that a handful of the petrol stations in the State capital, Abakaliki have already adjusted to the new pump price of N600 and above.
A middle-aged woman, Berth Oruka, who purchased fuel in one of the stations was stunned to learn of the new price.
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Though some of the petrol stations are still selling at the old price, perhaps unaware of the latest development, others including the Nigerian National Petroleum Company Limited located along the Enugu/Abakaliki expressway have suspended operations.
A staff of the NNPC told AIT off camera that they are not selling because they received a call from their regional manager in neighboring Enugu State, notifying them of the recent price change, which he attributed to the fluctuations in exchange rate.
(EDITOR: TIENABESO BIBIYE)
