Premium Motor Spirit (PMS) has increased in Awka, the capital of Anambra state, selling between N950 and N970 per litre. The product used to sell between N840 and N850 per litre up till the last week of February.
The survey by BusinessDay Correspondent in Awka and environs on Thursday showed price hike in all filling stations visited, but commercial transporters had yet to increase fares as much, just as little as N100 or N200 depending on the distant.
Speaking on the development, Chinedu Anyaso, chairman of Independent Petroleum Marketers of Nigeria (IPMAN), Enugu Zone said the price increase was as a result of hike at the source.
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Anyaso who is in charge of Anambra, Ebonyi and Enugu States said the rise in pump price was neither arbitrary nor the fault of marketers.
“The price of PMS has increased and this is because Dangote, which is our major supplier, added about N110 to every litre.
“So, the hike is not artificial, it is not arbitrary, it is a direct reflection of the reality we are facing,” he said.
Anyaso said the situation could get worse because of the ongoing war in the Middle East.
He said the war would trigger a shortage in crude production and result in higher prices.
“Prices of petroleum products will definitely go higher if the war in the Gulf continues because it will have negative impact on production and price of crude,” he noted.
