Have you bought petrol of late, especially during the elections? If you did, you must have noticed that there is a shift in the pump price of Premium Motor Spirit (PMS).
From our finding, the 2023 presidential and National Assembly elections held, on February 25, really had a significant impact on the price of petrol.
The price of petrol per litre had skyrocketed, due to the apprehension caused by the collation of results of the general elections across Nigeria.
Petrol stations operated by the Major Oil Marketers Association of Nigeria (MOMAN) and the Nigerian National Petroleum Company Limited (NNPCL) were selling petrol between ₦194 and ₦200/litre.
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Other outlets operated by the Independent Petroleum Marketers Association of Nigeria (IPMAN), dispensed the product between ₦250 and ₦340/litre.
This prices were solely in the control of the owners of the fuel stations.
It undermines the insistence of the Federal Government that there was no approval for an increase in the pump price of petrol.
The government had demanded that the product should not be dispensed above the approved rate.
However, Nigerians did not witness the sealing-off of any fuel station for going above the official price.
