 The Group Chief Executive Officer of the Nigerian National Petroleum Company Limited Mali Kari has blamed market forces for the increase in petrol pump price from 540 Naira to 617 Naira per litre. Speaking with State House correspondent after a private meeting with the Vice President Kashiv Shatima at the presidential villa in Abuja, the NNPCL chief explained that the increase is not based on a short supply of petrol. On his part, the Chief Executive Officer in our and downstream petrol and regulatory authority Farooq Ahmad said the price increase stands from rising crude prices, i.e. all society changes in freight prices alongside other antilary caste importers in Kerala during distribution. The market forces are working, but basically what it is that you buy, you can see the price of crude growing up. A couple of weeks ago, the price of crude was around $70 per bar, now it's $80 per bar. Of course, the crude price also drives the product price. Because the importers are importing, they are basing it on the cost of importation plus the freight, plus other cost elements in terms of local distribution.