NNPCL Raises Petrol Price to N1,364 per Liter

The Nigerian National Petroleum Company Limited (NNPCL) has raised the pump price of premium motor spirit (petrol) from N1,295 to N1,364 per liter, marking an increase of N69 per liter. This price adjustment was implemented across several locations in Abuja, including Gwarimpa, Kubwa Expressway, Wuse Zone 6, and Wuse Zone 4.

Additionally, other companies such as Mr Oil Nigeria and Bova Group have also raised their pump prices to N1,365 and N1,370 per liter, respectively. This move follows a similar increase by Dangote Refinery, which raised its gantry price by N75 to N1,275 per liter from N1,200.

The price hikes are attributed to the rise in global crude oil prices, which have surpassed $115 per barrel.