The Nigerian National Petroleum Company Limited (NNPCL) has increased the pump price of Premium Motor Spirit (PMS), commonly known as petrol, to ₦1,345 per litre at some of its filling stations in Abuja.
Checks on Monday showed that NNPCL outlets in parts of the Federal Capital Territory, including Gwarampa and Wuse Zones 4 and 6, were dispensing petrol at the new price.
The latest adjustment represents a ₦75 increase from the previous pump price of ₦1,270 per litre.
A staff member at one of the affected NNPCL stations confirmed the price increase, saying the new rate took effect on Monday.
The development comes shortly after several independent petroleum marketers also adjusted their pump prices upward.
Stations operated by MRS, Ranoil, Empire Energy and other marketers reportedly increased their prices by between ₦20 and ₦80 per litre in different locations.
The price hike followed an increase in the ex-depot price of petrol by Dangote Refinery.
The refinery reportedly raised its gantry price by ₦65, from ₦1,200 to ₦1,265 per litre, putting additional pressure on the retail price of petrol.
The latest development comes amid renewed concerns over the growing volume of imported petrol entering the Nigerian market.
Dangote Refinery had previously warned that it could restrict petrol supplies to importers and marketers following the increase in imported products.
According to data from the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), imported petrol accounted for 43.3 per cent of Nigeria’s total petrol supply in July.
The latest NNPCL adjustment is expected to further increase pressure on motorists and businesses that depend heavily on petrol for transportation and power generation.
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