NNPC increases petrol price across retail outlets
The Nigerian National Petroleum Company Limited (NNPCL) on Tuesday increased the price of Premium Motor Spirit (PMS), popularly known as petrol, across its retail outlets.
It was gathered that the NNPCL filling stations made a slight increase from N965 to N999 in the majority of their outlets in the Federal Capital Territory, Abuja, and Akwa Ibom State.
The state-owned oil company also increased the PMS price in Lagos to N960 per litre from N925, the adjustments that represent the N34 and N35 differences.
The Informant247 recalled following an increase in the price of crude oil, including Nigeria’s Bonny Light rose by 5.1 per cent to $82 per barrel, from $78 per barrel in the global market, Dangote Petroleum Refinery on Friday, 18th January 2025, announced an upward review of its Premium Motor Spirit (PMS) prices.
Dangote Refinery affecting European markets – OPEC cries out
The refinery announced the new pricing structure in a statement released, setting the new bulk purchase rate at N955 per litre for customers purchasing between 2 million and 4.99 million litres.
According to the statement, bulk buyers acquiring 5 million litres or more will now pay N950 per litre, reflecting a 6.17% increase, or N55.5 per litre, compared to the discounted rate of N899.50 per litre offered during December 2024’s holiday period.
Meanwhile, a confirmation on Tuesday has that Dangote Refinery partner, MRS filling stations along the Kubwa Expressway, sold fuel at N970 per litre, up from N935.
Other fuel retail outlets sell the product between N1030 per litre and N1,100, depending on the location.
Dangote Refinery and the Petroleum Products Retailers Association of Nigeria have blamed the surge in global crude oil prices for the latest domestic petrol hike.
Source: DAILY POST
