Long fuel queues have been noticed in parts of the Federal Capital Territory with reports that the fuel pump price has been reviewed from N537 to N617 per litre.
Our correspondent observed that while stations operated by the NNPCL sell the product at N617 per liter, marketers have adjusted their meters to N620 in Abuja.
Motorists who are jolted by the pump price increase besieged the filling stations in large numbers to buy the products which caused the sudden reappearance of long queues in the stations.
Independent oil marketers who confirmed the increase in the fuel pump price said that it was a result of the increase in the price of the product by stations operated by the NNPCL.
The National Operations Controller of the Independent Marketers Association of Nigeria (IPMAN), Mike Osatuyi, said that there were projections there could be an upward review of the pump price from the third week of July 2023, when new fuel imports come into the country.
According to him, the increase of the pump price is caused among others by the recent increase in crude oil prices in the international market, the increase in the Dollar to Naira exchange and the transportation costs that require marketers to transport fuel to distant cities in the North.
