Business News
BREAKING: NNPCL raises petrol price to N1,430 per litre
The latest adjustment represents an increase of between N50 and N80 per litre, depending on the retail outlet.
The Nigerian National Petroleum Company Limited (NNPCL) has increased the pump price of Premium Motor Spirit (PMS), commonly known as petrol, in Abuja and neighbouring areas.
A market survey on Tuesday showed that most NNPCL retail outlets in the Federal Capital Territory and its environs were selling petrol between N1,395 and N1,430 per litre.
The latest adjustment represents an increase of between N50 and N80 per litre, depending on the retail outlet.
Very Nigerian reports that the new prices have been implemented at NNPCL outlets in Airport Junction, Gwarinpa, Kubwa Expressway, Wuse Zone 4 and other parts of the nation’s capital and its environs.
This comes as MRS filling stations raised their petrol pump price to N1,395 per litre following Dangote Refinery’s gantry price increase to N1,265 per litre.
The upward fuel price review comes as Brent and West Texas Intermediate, WTI, crude prices rose to $107 and $103 per barrel, respectively, after Iran and the United States’ strikes took a devastating turn last week.
Recall that Iran struck Saudi Arabia’s East-West pipeline.
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