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FG increases petrol price to N185 per litre

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The Federal Government has officially increased the price of petrol by 8.8 per cent to N185 per litre, from N170 per litre.

But, many filling stations have been selling far above this new price, a situation which may have made the new price almost unrealistic.

In a notice to fuel marketers, yesterday, the government directed that the new price should take immediate effect.

It was gathered yesterday that a few petrol stations belonging to the Major Marketers Association of Nigeria, MOMAN, have already adjusted their pumps in line with the new price directive.

The development caused further anxiety for motorists who spent hours in fuel queues in search of the product.

A source said an internal memo was sent by the government to all marketers, including the Major Oil Marketers Association of Nigeria, MOMAN, and the Independent Petroleum Marketers Association of Nigeria, IPMAN.

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