The Petroleum Products Marketing Company announced on Wednesday, September 2, 2020 that the pump price of petrol per litre has increased to N151.56. The price was raised from the N138.62 per litre that was announced in August.

The downstream subsidiary of the Nigerian National Petroleum Corporation (NNPC) told industry stakeholders that the adjustment is effective immediately.

"Please be informed that a new product price adjustment has been effected on our payment platform," the memo read.

The pump price went as low as N123.50 per litre only four months ago, but has continued to climb ever since then.