The Nigerian National Petroleum Corporation (NNPC) has debunked claims about planned increase in the price of Premium Motor Spirit popularly known as petrol.

The social media was awash on Wednesday, that NNPC will announce a new increase in the price of fuel across the country.

But, the company in a statement on Wednesday night by its chief communications officer, Olufemi Oladapo Soneye, urged Nigerians to “disregard unfounded rumours, while assuring that there are no plans for an upward review of the PMS price.”

“Motorists nationwide are advised against engaging in panic buying, as there is presently ample availability of PMS across the country, the statement noted.