The Nigerian National Petroleum Company Limited (NNPCL) has raised the pump price of Premium Motor Spirit (PMS), commonly known as petrol, across its retail outlets. In Abuja, the price has been adjusted from N890 to N955 per litre, marking an increase of N65.
This adjustment has been observed at various NNPCL stations, including those along the Kubwa Expressway, Wuse, and other parts of the capital city.
A similar price hike has been implemented in neighbouring states such as Kogi and Nasarawa, indicating a widespread adjustment in fuel costs. This development follows a recent increase in petrol prices by independent petroleum marketers and filling station owners in Abuja, who had earlier raised their pump prices to between N950 and N971 per litre over the weekend.
The decision by independent marketers was influenced by an upward revision of the ex-depot petrol price by Dangote Refinery, which increased from N820 to N858 per litre.
The latest adjustment by NNPCL further reflects the rising cost of petroleum products in the country, adding to the financial burden on consumers already grappling with high living expenses.
The frequent price fluctuations have raised concerns among motorists and businesses, as transportation and operational costs continue to climb. Analysts suggest that the trend may persist unless measures are taken to stabilise fuel supply and pricing in the domestic market.
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cc: Daily Post Ng
