Panic Buying: Fuel price hits N617 per litre

The price of Petrol has increased to about N617 per litre. Fuel stations operated by NNPC have adjusted their fuel price from N539 to N617 per litre.

The immediate reason could not be ascertained. There have been speculations that the price of petrol will hit N700 per litre soon. The Nigeria Midstream and Downstream Petroleum Regulatory Authority (NDMPRA) is yet to comment on this development.

Panic buying has chased motorists and commercial bus operators to the nearest filling station and long queues are beginning to build up.