Business News
Again, NNPCL hikes fuel price to N1,335 per litre
The Nigerian National Petroleum Company Limited (NNPCL) has increased the pump price of Premium Motor Spirit (PMS), commonly known as petrol, for the second time in less than 48 hours.
A market survey conducted on Wednesday showed that NNPCL adjusted the price of petrol from N1,270 per litre to N1,335 per litre, representing an increase of N65 per litre.
The latest price adjustment has already taken effect at several NNPCL retail outlets, including filling stations in Wuse Zone 6 (Berger), Zone 4, and other locations across Abuja and its surrounding areas.
Recall that on Tuesday, NNPCL increased its petrol pump price by N115 per litre to N1,270 per litre.
The latest increase comes amid continued petrol price volatility in the country’s downstream oil sector following Dangote Refinery’s resumption of the sale of refined petroleum products in U.S. dollars.
Very Nigerian reports that crude oil prices rose by nearly 4 percent on Wednesday as airstrikes intensified in the Middle East.
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