The Nigerian National Petroleum Company Limited (NNPCL) has increased the pump price of Premium Motor Spirit (PMS) for the second time in less than 24 hours following a gantry price hike at the Dangote Refinery.
On Sunday, NNPCL adjusted its petrol price from N967 per litre to N1,082 per litre at its retail outlets in Abuja and surrounding areas, marking a N115 increase. Earlier, the company had raised the price from N960 to N967 per litre, bringing the total increase within the week to N207 per litre.
Checks at various NNPCL stations along Kubwa Expressway, Gwarimpa, Wuse Zones 4 and 6, and Lifecamp confirm that the new price is already in effect. Other private stations, including MRS, AA Rano Ranoil, and Empire Energy, now sell petrol between N1,092 and N1,150 per litre, up from the previous N960–N980 range.
The Petroleum Products Retail Outlets Owners Association of Nigeria linked the surge to instability in the global crude oil market, citing tensions involving Iran, the United States, and Israel. Billy Gillis-Harry, the association’s national president, urged regulators to take action to stabilize domestic fuel prices.
The price adjustment follows a recent increase at the Dangote Refinery, where the gantry price of petrol rose by N121 per litre, from N874 to N995, as crude oil prices climbed above $90 per barrel internationally.
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