Petroleum marketers under the aegis of the Independent Petroleum Marketers Association of Nigeria (IPMAN), covering Oyo and Osun States, had a meeting on Thursday, June 27, to discuss the possible review of the current Premium Motor Spirit (PMS), commonly known as petrol.

The National Bureau of Statistics, in its most recent report, revealed that the average pump price of a litre of petrol stood at N769.62 per litre.

Nigerian Tribune reports that the meeting was held at the IPMAN Secretariat located at Odo-Ona, off the Ibadan-Abeokuta expressway.

The report noted that the meeting was prompted by recent news circulating about a potential change in the pump price of petrol.

The National Bureau of Statistics, in its most recent reports, revealed that the average pump price of a litre of petrol stood at N769.62 per litre.

However, Tribune reports that at the meeting, the marketers in attendance suggested a reduction of petrol price to N557 per litre.

While others project a significant increase to N1,226 per litre.

A conclusion was not reached at the end of the meeting., the report added.

NNPC reacts to new fuel price

Meanwhile, the Nigerian National Petroleum Company (NNPC) Limited has denied that it has adjusted its fuel price template.

The Chief Corporate Communication Officer, NNPC Ltd, Olufemi Soneye, told the New Telegraph that insinuation of fuel price adjustment is ‘fake news.’

He stated that NNPC Ltd would have made the announcement to the public if there was a price adjustment.