The Nigerian National Petroleum Company (NNPC) says it has no plans to further hike the pump price of gasoline, despite recent speculation of an imminent increase.

“We at NNPC Retail value your patronage, and we do not have the intention to increase our PMS pump prices as widely speculated,” said NNPC spokesperson Muhammad Garbadeen in a statement Monday night.

The clarification follows a warning issued earlier by the Nigeria Labour Congress (NLC) president urging NNPC not to impose a third consecutive fuel price rise this year.

There has been no reprieve for consumers since the removal of the petrol subsidy unveiled by President Bola Tinubu in his May inauguration speech. That initial deregulation triggered a spike from 184 naira to 500 naira per liter.

In July, the price climbed again to over 617 naira, which NNPC’s CEO attributed to market factors. But another increase would add to public anger over eroded purchasing power.

After hitting users with higher transport costs and broader inflationary impacts, the first two fuel hikes provoked protests from the Organised Labour Union in early August over “anti-people” policies.

With NNPC now dismissing rumors, Nigerians will hope to avoid further pain at the pump. But global oil volatility means ongoing uncertainty over domestic petrol prices.