The Nigerian National Petroleum Corporation (NNPC) has responded to rumors that it plans to increase the price of fuel in the country.
Grassroots.ng understands that reports emerged earlier this week that the Corporation was planning to increase the fuel price amid the current economic downturn affecting the country.
The corporation gave the assurance in a statement signed by its spokesman Dr Kennie Obateru in Abuja, on Thursday.
“In spite of the rise in the price of crude oil in the international market, NNPC has ruled out any increment in the ex-depot price of PMS in February 2021,” he said.
The News Agency of Nigeria (NAN) reports that ex-depot price is the price at which oil marketers buy products from the depot.