NNPCL Hikes Petrol Prices Twice in 24 Hours Amid Dangote Refinery Surge
The Nigerian National Petroleum Company Limited (NNPCL) has increased the price of Premium Motor Spirit (PMS) for the second time in less than 24 hours, following a recent gantry price adjustment by Dangote Refinery. The state-owned company raised its pump price in Abuja and surrounding areas from N967 to N1,082 per litre, marking a N115 increase. This came after an earlier adjustment from N960 to N967 per litre, bringing the total petrol price rise to N207 in under a week.
The new prices have been implemented across NNPCL outlets in Kubwa Expressway, Gwarimpa, Wuse Zone 6, Zone 4, and Lifecamp. Other filling stations, including MRS, AA Rano Ranoil, and Empire Energy, have also adjusted their pumps at least twice, with retail prices now ranging between N1,092 and N1,150 per litre, up from the previous N960–N980 range.Billy Gillis-Harry, National President of the Petroleum Products Retail Outlets Owners Association of Nigeria, attributed the hikes to global crude oil volatility, particularly the ongoing Iran–US–Israel conflict impacting the Gulf region. He urged Nigerian oil sector regulators to intervene and stabilize domestic petrol prices.Earlier, Dangote Refinery had increased its gantry petrol price by N121, from N874 to N995 per litre, as crude oil prices surged above $90 per barrel.
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