Oil marketers have warned that Nigerians should prepare for another increase in the pump price of petrol, due to the continued scarcity of foreign exchange to finance importation of the product.
According to them, the US dollar hit an all-time high last week, as it exchanged for N400 at the parallel market.
Worried by the development, the marketers say if not urgently addressed, the pump prices of petrol will not remain at the approved rates.
But the Federal Government insists there are no plans to increase the pump price above N140 per litre.
This is coming, following tha plan of the Federal Government to give foreign exchange waiver of N197 as against the N400 to pilgrims for this year Hajj.