The Nigerian National Petroleum Company Limited (NNPCL) has implemented a significant increase in the pump price of Premium Motor Spirit (PMS), commonly known as petrol, across its retail outlets nationwide.
According to reports gathered by BenriNews, NNPCL retail outlets in Abuja have adjusted their fuel pump price to N955 per litre, marking a N65 increase from the previous N890 per litre.
The price adjustment has been confirmed at NNPCL filling stations along Kubwa Expressway, Wuse, and other locations across the Federal Capital Territory. Similar price increases have also been implemented at NNPCL outlets in neighboring Kogi and Nasarawa states.
This latest price hike follows a weekend development where independent petroleum product marketers and filling station owners in Abuja had already increased their petrol pump prices to between N950 and N971 per litre.
The industry-wide adjustment comes in response to Dangote Refinery's upward review of the ex-depot petrol price to N858 per litre, representing an increase from the previous N820 per litre rate.
This price adjustment is expected to have ripple effects on transportation costs and potentially impact the prices of goods and services across the country, further adding pressure to consumers already dealing with economic challenges.
The NNPCL has yet to release an official statement explaining the rationale behind this latest price increase or whether additional adjustments might be expected in the coming weeks.
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