The Nigerian National Petroleum Company Limited (NNPCL) has increased the pump price of Premium Motor Spirit (PMS), popularly known as petrol, at its retail outlets across Abuja and surrounding areas.
A market survey conducted on Tuesday showed that NNPCL filling stations adjusted their petrol price from N1,155 per litre to N1,270 per litre, representing an increase of N115 per litre.
The latest adjustment adds to growing concerns in Nigeria’s downstream petroleum sector, where petrol prices have witnessed multiple increases within a short period amid supply uncertainties and rising operational costs.
The development follows the closure of some NNPCL and MRS filling stations in parts of Abuja, while other petroleum marketers adjusted their pump prices on Monday as uncertainty continued to affect fuel supply and pricing.
Industry players have already raised petrol prices twice in less than one week, with depot owners and independent marketers also reviewing their rates amid changing market conditions.
The latest increase comes shortly after Dangote Refinery resumed the sale of refined petroleum products in dollars, a move that has sparked reactions from petroleum marketers and stakeholders over its possible impact on petrol pricing and availability.
The development has further heightened concerns among consumers, who continue to face rising transportation costs and increased pressure from the general increase in the cost of living.