Ibadan Petroleum Marketers Peg Pump Price at N190

Petroleum marketers in Ibadan, the Oyo state capital has announced N190 has the new pump price for the now scarce commodity.

Several gas stations, notably Bovas Petroleum, reportedly adjusted their pump prices on Friday.

However, sources say the Federal Government approved ₦185 as the new petrol pump price per litre

The newly approved pump price was communicated to major marketers in a memo early Thursday.

The newly approved price comes weeks after there had been nationwide petrol scarcity, leading to long queues in fuel stations since late November 2022.

Although the official pump price was ₦180 per litre many fuel stations sold fuel above ₦270 per litre in Ibadan, most part of Abeokuta and other parts of Nigeria.

In the meantime, it was gathered that the adjusted pump price was due to increase in operating expenses and a way to cope with the prevailing economic reality of the country.

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