NNPCL has increased petrol price to ₦960 per litre.
NewsOnline Nigeria reports that the Nigerian National Petroleum Company Limited (NNPCL) has raised the pump price of Premium Motor Spirit (PMS), increasing the cost of petrol to ₦960 per litre in Abuja.
Checks by NewsOnline across several NNPCL retail outlets in the Federal Capital Territory on Tuesday showed that the new price represents an ₦85 increase from the ₦875 per litre sold on Monday.
New Petrol Prices Take Effect Across Abuja
The updated price has already been implemented at NNPCL stations along Kubwa Expressway, Gwarimpa, Wuse Zone 6, Zone 4, and other parts of the city.
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Other marketers have followed suit. Empire and Ranoil Sharon filling stations adjusted their pump prices to between ₦960 and ₦980 per litre.
Meanwhile, an outlet of MRS along Kubwa Expressway had yet to begin fuel dispensing as of the time of filing this report. However, a manager at one of its Abuja stations, who spoke anonymously, indicated that prices would be reviewed upward following a gantry price increase by Dangote Refinery on Monday.
Dangote Refinery Gantry Price Hike Triggers Increase
Dangote Refinery raised its gantry petrol price to ₦874 per litre, citing rising global crude oil prices linked to escalating hostilities in the Middle East.
Industry groups, including the Independent Petroleum Marketers Association of Nigeria (IPMAN) and the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN), had earlier confirmed that fuel prices would increase from Tuesday in response to the adjustment.
Impact on Consumers
The upward review is expected to further strain consumers already grappling with rising transportation and living costs. Petrol price fluctuations in Nigeria remain closely tied to global oil market dynamics and domestic supply considerations.
With marketers adjusting their rates in response to refinery pricing and global trends, motorists across Abuja are likely to pay more for fuel in the coming days.