Fuel Price Skyrockets to N617 per Litre in Abuja, Marketers Warn of Potential N700 Increase

In a shocking turn of events, the price of petrol has surged to a staggering N617 per litre in Abuja, leaving citizens grappling with the burden of soaring fuel costs. Daily Trust can confirm that an NNPC filling station in the Central area of Abuja adjusted their fuel price from N539 to N617 per litre, as witnessed during a visit on Tuesday morning.

The abrupt and significant hike in fuel prices has raised concerns among the populace, triggering a wave of frustration and economic uncertainty. A customer, who recently purchased fuel at the inflated rate, verified this disconcerting development, stating, "It is true, I just bought at N617 per liter."

While the immediate cause of this exorbitant surge remains uncertain, industry insiders point to the recent projections made by oil marketers. These projections allude to an imminent surge that could potentially push the fuel price as high as N700 per litre. Such a steep increase would undoubtedly have severe ramifications for the already strained budgets of Nigerian households.

As the news broke, the Nigeria Midstream and Downstream Petroleum Regulatory Authority (NDMPRA) was contacted for comments, but they are yet to respond to Daily Trust's inquiry at the time of reporting. The lack of a prompt response from regulatory authorities further compounds the anxieties surrounding this escalating crisis.

READ ALSO: Today 18th July 2023 Dollar To Naira

The surge in fuel prices not only impacts the general population but also has far-reaching implications for various sectors of the economy. Transportation costs are expected to surge, leading to increased prices for goods and services across the board. This ripple effect threatens to exacerbate the already high inflation rates, placing an additional burden on the Nigerian economy.

Amidst this alarming situation, citizens are anxiously awaiting decisive action from relevant regulatory bodies and the government. The immediate implementation of measures to stabilize and regulate fuel prices has become imperative to protect the welfare and financial stability of the Nigerian people.

Finally, the abrupt surge in fuel prices to N617 per litre in Abuja has sent shockwaves through the nation. With fears of an impending increase to N700 per litre, citizens are bracing themselves for an even greater burden. As the NDMPRA remains silent, urgent steps are required to address this crisis, ensuring the stability and affordability of fuel for the Nigerian population.

If this article is helpful click the link below to Join our Whatsapp group for more info.

https://www.bzglobalservice.com.ng/p/join-our-groups-whtasapp-now-to-get-any.html

Fuel Price Skyrockets to N617 per Litre in Abuja, Marketers Warn of Potential N700 Increase

0 Response to "Fuel Price Skyrockets to N617 per Litre in Abuja, Marketers Warn of Potential N700 Increase"

Post a Comment