Petrol Price Jumps By N115 As NNPCL, Other Marketers Adjust Pump Rates.

 

The Nigerian National Petroleum Company Limited has increased the pump price of Premium Motor Spirit, popularly known as petrol, from N1,155 to N1,270 per litre in Abuja and surrounding areas.

The latest adjustment represents an increase of N115 per litre, with several other filling stations also reportedly raising their petrol prices.

The price hike has also resulted in the closure of some NNPCL and MRS filling stations in parts of Abuja, amid growing uncertainty in the downstream petroleum sector.

The development comes less than a week after depot owners and petroleum marketers reportedly increased their prices for the second time.

The latest petrol price adjustment follows the resumption of refined petroleum product sales in US dollars by the Dangote Refinery, a move that has further fuelled concerns over rising fuel costs and market volatility.