The Nigerian National Petroleum Company Limited (NNPCL) on Tuesday increased the pump price of Premium Motor Spirit (PMS), commonly known as petrol.
A market survey by Daily Post showed that most NNPCL retail outlets in Abuja and its environs now sell petrol at between ₦1,395 and ₦1,430 per litre. This represents an upward adjustment of ₦50 to ₦80 per litre.
The new prices are already in effect at NNPCL stations in Airport Junction, Gwarinpa, Kubwa Expressway, Wuse Zone 4 and other parts of the Federal Capital Territory and surrounding areas.
The development comes shortly after Dangote Petroleum Refinery raised its gantry price of petrol by ₦85 per litre, moving it from ₦1,265 to ₦1,350 — a 6.7 per cent increase.
According to data from Petroleumprice.ng, the adjustment follows a sharp rise in international crude oil prices and higher petroleum product replacement costs. The current landing cost of PMS stands at ₦1,311 per litre.
Dangote’s new ex-gantry price now exceeds the prevailing landing-cost benchmark. The hike also reverses the refinery’s earlier decision to maintain its Lagos PMS price as rising crude costs continue to exert pressure on the downstream market.
