The Nigerian National Petroleum Company Limited (NNPCL) has implemented another increase in the pump price of Premium Motor Spirit (PMS), commonly known as petrol, across its retail outlets nationwide. This marks the second price adjustment in just four days.
BenriNews correspondents confirmed that NNPCL filling stations in Abuja have raised their petrol price to N945 per litre. The new pricing was observed at NNPCL retail outlets in Kubwa, Lugbe Expressway, Wuse Zone 4, and Wuse Zone 5.
The price increase extends beyond the Federal Capital Territory, with similar rates of N945 per litre reported at NNPCL stations in parts of Nasarawa and Kogi states.
Abubakar Maigandi, National Chairman of the Independent Petroleum Marketers Association of Nigeria (IPMAN), confirmed the fresh fuel price hike to BenriNews on Friday. "The latest increase in NNPCL petrol pump was implemented this morning. I cannot tell the reason," he stated.
This latest increment comes after NNPCL had briefly reduced its pump price to N900 per litre just two days ago, down from N955 per litre that was in effect on Monday, August 4.
The fluctuations in NNPCL's retail fuel prices follow Dangote Refinery's decision to increase its ex-depot price of petrol from N820 to N850 per litre.
Meanwhile, other filling stations across Abuja are selling at varying rates. MRS and Bova filling stations are dispensing fuel at N885 and N895 per litre, respectively. Optima, Ranoil, AA Rano, NIPCO, and other filling stations in the capital city are selling between N950 and N955 per litre as of Friday evening.
The frequent price adjustments have created uncertainty for consumers and businesses alike, as they struggle to adapt to the volatile fuel market conditions.
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