NNPCL Hikes Petrol Price Nationwide

The Nigerian National Petroleum Company Limited (NNPCL) has increased the pump price of petrol to N1,270 per litre in, adding fresh pressure on motorists despite lower crude oil prices and Dangote Refinery’s expanded fuel distribution programme.

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Checks at NNPCL filling stations across the Federal Capital Territory and neighbouring areas showed that the state-owned oil company raised its price by N20 from the previous N1,250 per litre.

The latest adjustment came on Tuesday, a public holiday marking Eid-ul-Mawlid, with motorists facing higher prices at some NNPCL outlets.

The development is coming at a time when the Dangote Refinery has expanded its free petrol delivery initiative to more locations across Nigeria, including Abuja.

Under the initiative, petrol from the refinery is being supplied at N1,185 per litre, putting it below the new NNPCL pump price.

The price gap has also widened between NNPCL and several private filling stations operating in Abuja and its environs.

MRS filling stations, for instance, recently increased their petrol price by N20 to N1,230 per litre.

As a result, petrol at NNPCL outlets is now about N40 more expensive than the MRS price, while other marketers such as Geregu, Ranoil, Emedab and Mobil are also selling below NNPCL’s latest rate.

However, not all filling stations are selling petrol cheaper than NNPCL.

Some outlets, including Empire and AA Rano, have placed their pump prices between N1,275 and N1,299 per litre.

The latest changes mean that motorists in Abuja and surrounding areas are currently paying between N1,230 and N1,299 for a litre of petrol, depending on the filling station.

The NNPCL adjustment has further intensified attention on petrol pricing in the downstream oil sector, particularly as crude oil prices have recently fallen.

At the time of the report, Brent crude was trading at about $88.80 per barrel, while West Texas Intermediate (WTI) stood at approximately $81.86 per barrel.

For motorists, the combination of varying pump prices and changing market conditions means the cost of filling vehicle tanks continues to differ significantly across Abuja.