- NNPCL Raises Petrol Price by ₦115 Per Litre to ₦1,270
- Latest adjustment represents a ₦115 increase in the petrol price.
- Increase comes amid uncertainty across Nigeria’s downstream petroleum sector.
The Nigerian National Petroleum Company Limited (NNPCL) has increased the pump price of Premium Motor Spirit (PMS), commonly known as petrol, by ₦115 per litre.
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EKO HOT BLOG reports that the latest price adjustment was observed following a market survey conducted by newsmen across NNPCL retail outlets in Abuja and surrounding areas.
Findings from the survey showed that the price of petrol increased from ₦1,155 to ₦1,270 per litre, representing a ₦115 increase.
The latest adjustment comes amid continued uncertainty in Nigeria’s downstream petroleum sector, with depot operators and fuel marketers also recently increasing their prices.
The increase is expected to further raise concerns among motorists and consumers, particularly as petrol prices remain a major factor influencing transportation costs and the prices of goods and services across the country.
The latest development also comes amid ongoing changes in the downstream petroleum market following the removal of fuel subsidies and increased reliance on market driven pricing.
Motorists and other petroleum consumers are expected to continue monitoring prices as the downstream sector responds to changing market conditions.
