The Nigerian government has taken the decision to increase the price of petrol to N617 per litre, as reported by Daily Trust. This significant hike in fuel prices was confirmed following a visit to one of the NNPC filling stations located in the Central area of Abuja on Tuesday, July 18, 2023.
Prior to this adjustment, the fuel price stood at N539 per litre, but it has now been raised to N617 per litre, causing concern among the citizens. One customer, who witnessed the price change, confirmed the authenticity of the information, stating, “It is true, I just bought at N617 per litre.”
The exact reasons behind this sudden increase have not been officially disclosed by the government. However, it is speculated that this move might be linked to recent projections made by oil marketers, warning that fuel prices could soar to a staggering N700 per litre in the near future.
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As this decision takes effect, citizens and businesses alike are bracing themselves for the potential impact on transportation costs and living expenses. The government’s decision is likely to spark debates and discussions across the nation, as Nigerians grapple with the economic implications of this price hike.
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