Seemingly following the trend, the Nigerian National Petroleum Company Limited, NNPCL, and other filling stations have raised the price of Premium Motor Spirit (PMS) for the second time in less than 24 hours following the gantry price hike by Dangote Refinery
TMY News r reports that the federal government-owned oil company on Sunday increased its pump price from N967 to N1,082 per liter in Abuja and its environs, representing a N115 increase per liter.
This followed an earlier adjustment from N960 to N967. With the latest hike, NNPCL retail outlets have raised petrol prices by N207 in less than a week.
It was noticed that the current prices have been implemented across NNPCL retail outlets in Kubwa Expressway, Gwarimpa, Wuse Zone 6, Zone 4, and Lifecamp.
Also, other filling stations, including MRS, AA Rano Ranoil, and Empire Energy, have adjusted their fuel pumps at least twice, with prices now ranging between N1,092 and N1,150 per liter, up from around N960 to N980 per liter.
Reacting to the fuel price hike, the National President of the Petroleum Products Retail Outlets Owners Association of Nigeria, Billy Gillis-Harry, stated that he domestic petrol price hike is not unassociated to global crude oil price volatility.
“The Dangote Refinery gantry petrol price hike and retail price adjustment are due to crude price volatility caused by the Iran–US–Israel conflict affecting the Gulf region,” he said.
