The Nigerian National Petroleum Company Limited (NNPCL) and other major fuel marketers have increased the pump price of Premium Motor Spirit (PMS) across their outlets following a rise in gantry prices by Dangote Refinery.
Checks by a correspondent on Tuesday at NNPCL filling stations in Abuja showed that petrol now sells for N960 per litre, up from N875 per litre on Monday — representing an increase of N85.
The new price has been implemented at NNPCL outlets along Kubwa Expressway, in Gwarimpa, Wuse Zone 6 and Zone 4, among other locations in the capital city.
Other private marketers have also adjusted their prices. Empire and Ranoil Sharon outlets now sell petrol between N960 and N980 per litre, depending on location.
At the time of reporting, MRS filling station along Kubwa Expressway had not commenced fuel dispensing. However, a manager at one of its Abuja outlets, who spoke anonymously, said the company would review its price upward in response to the recent gantry price hike.
The development follows the increase in petrol gantry price by Dangote Refinery to N874 per litre on Monday, a move attributed to rising global oil prices amid tensions in the Middle East.
Industry groups, including the Independent Petroleum Marketers Association of Nigeria (IPMAN) and the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN), had earlier confirmed that fuel prices were expected to rise from Tuesday following the adjustment.