Following the report that the pump price of Premium Motor Spirit, better known as petrol has skyrocketed to N212.61 per litre, several Nigerians took to social media to vent their frustrations.

The Petroleum Products Pricing Regulatory Agency has revealed in a new monthly template that petrol price has shot up to N212.6 per litre.

According to the template which the PPPRA released midnight, petrol is expected to sell at a lower retail price of N209.61 and at an upper retail price of N212.61. Nigerian marketers usually use the upper band for pump price.

The expected ex-depot price, as seen in the template, is N206.42, while the landing cost is N189.61.
With ex-depot price standing at N206.42 per litre, the March template shows that the landing cost for petrol per litre is N189.61.

This is despite the Nigerian Petroleum Corporation saying there won’t be any change in the price of PMS in the month of March.

The NNPC had promised that petrol price would remain static in March to allow smooth negotiations between the government and labour unions, but the PPPRA template follows the increasing price of crude at the international market as well as instability in the exchange rate.

Reacting on Twitter, a young man, Michael Onabiyi expressed concerns that the increase came at a time many Nigerians cannot afford a three-square meal.

He tweeted:
“Fuel price hike again when we cannot even afford a two square meal in one day? This government is here to kill Nigerians. Tinubu brought this on us the Yoruba race, we will never forget your contribution.”

A Twitter user with the handle @PalavaSunny preferred to go proverbial: “An old man once said, ‘Just make Nigerians comfortable they’ll pay for it, very docile.”

A certain Hajja Hauwa also frowned at the justification for such an increase.

“Fuel to sell at N212? You have every right to be angry dear Nigerians.”

Another user on Twitter @Success4to45 expressed shock on hearing the news.

“I woke up this morning and I saw this, this man is a great disaster to the Nigerians,” he lamented.