NNPCL increases petrol price to N1,430 per litre

The Nigerian National Petroleum Company Limited (NNPCL) has raised the price of Premium Motor Spirit (PMS), popularly called petrol, in Abuja and surroundings.

Market surveys carried out on Tuesday revealed that majority of the NNPCL fuel stations in the Federal Capital Territory and surrounding regions were selling petrol for between N1,395 to N1,430 per litre.

The latest adjustment represents an increase of between N50 and N80 per litre, depending on the retail outlet.

This newspaper reports that the new prices have been implemented at NNPCL outlets in Airport Junction, Gwarinpa, Kubwa Expressway, Wuse Zone 4 and other parts of the nation’s capital and its environs.

This comes as MRS filling stations raised their petrol pump price to N1,395 per litre following Dangote Refinery’s gantry price increase to N1,265 per litre.

The upward fuel price review comes as Brent and West Texas Intermediate, WTI, crude prices rose to $107 and $103 per barrel, respectively, after Iran and the United States’ strikes took a devastating turn last week.

Recall that Iran struck Saudi Arabia’s East-West pipeline