Business News
BREAKING: Again, NNPCL hikes fuel price to N967 per litre
The Nigerian National Petroleum Company Limited (NNPCL) has increased the pump price of Premium Motor Spirit, commonly known as petrol, for the second time in four days.
According to reports, the state-owned oil company raised the price on Saturday from N960 to N967 per litre, reflecting a fresh increase of N7 per litre.
The new price has already been implemented at several NNPCL filling stations across Abuja and nearby areas as of Saturday.
This latest adjustment comes shortly after the company earlier increased the pump price from N875 per litre to N960 per litre, signalling continued changes in the domestic fuel market.
Other filling stations in the nation’s capital have also raised their pump to between N967 and N1,000 per liter.
Very Nigerian reports that on Saturday crude oil prices rose by 9 percent to above $90 per barrel for Brent and West Texas Intermediate.
Recall that Dangote Refinery on Monday raised its gantry petrol price on the back of rising crude prices as a result of the turmoil in the Middle East.
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