It has been learned that Premium Motor Spirit popularly known as petrol will now be sold between N170/liter and N190/liter in filling stations across the country.
This is following what is believed to be a subtle agreement between Federal Government officials and oil marketers.
Findings by reporters on Sunday revealed that the development was the outcome of a meeting between the Nigerian Midstream and Downstream Petroleum Regulatory Authority and oil marketers on Thursday.
Sources privy to the meeting said it was agreed that the pump price of petrol should be increased by N10 per liter.
A market survey on Sunday revealed that price display boards at some petrol stations in Lagos reflected new prices starting between N170 per liter and N175 per liter.
However, some other filling stations sold above these prices, with some selling as high as N185/liter.
Oil marketers denied holding a meeting with the NMDPRA on the subject matter but sources close to the matter confirmed to our correspondent that the meeting was held.
Our source said, “The meeting was held and everybody was told to keep mum. A band of N165-N175/liter was approved for the filling stations inside towns, while N189 was approved for those outside towns.”
