The price of petrol has risen by 110 per cent in four month.
Data by showed that the price rose from N148 per litre last October to an average of N312 per litre on February 3 this year.
As the sole importer of petroleum products, the Nigerian National Petroleum Company Limited had set the price which products can be sold to oil marketers at depots at N148 per litre.
However as a result of the scarcity, the price has hit an average of N312/litre within the space of four months, according to the latest industry data report published by the Major Oil Marketers Association of Nigeria.
While the hike was witnessed at the depots, pump prices had also jumped from N179/N180 per litre to as high as N500/litre, depending on the location.
According to the data, the least average ex-depot price of petrol within the period under review was N303/litre.
