▪︎Image of a CNG car / GoCNG
Could the government’s push for the adoption of vehicles driven by Compressed Natural Gas(CNG) be the driving force behind the frequent hikes in the pump prices of petrol in Nigeria, in recent months?
The latest increase announced (Tuesday, October 29) by the Nigerian National Petroleum Company Limited (NNPCL) raised the price of Premium Motor Spirit (PMS), commonly known as petrol, to N1,025 per litre from the previous rate of N980 per litre in Lagos and surrounding areas.
In addition, reports from Abuja indicated that petrol prices there have surged to N1,060 per litre.
The price adjustment by the NNPCL was the third price change in September and October 2024.
Beyond the deregulation of the sector which allows price fluctuations based on the demand and supply mechanism, coupled with the devaluation of the Naira, could….
Read more: Soaring-cost-of-petrol-is-govts-push-for-cng-driven-vehicles-behind-it?
Ohibaba.com