The Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), Mele Kyari, has blamed MARKET FORCES for the increase in petrol pump price from N540 to N617 per litre.

Speaking after a meeting with Vice President Kashim Shettima at the Presidential Villa Abuja, the NNPCL Chief explained that the increase is not based on a short supply of petrol.

Correspondent, Raliat Adenekan reports that the Chief Executive Officer, Nigerian Midstream and Downstream Petroleum Regulatory Authority, Farouk Ahmed, in his remarks said the price increase stems from rising crude oil prices in the International market.