NNPCL Raises Petrol Price to ₦960 Per Litre

The Nigerian National Petroleum Company Limited (NNPCL) has raised the pump price of petrol to ₦960 per litre, an increase of 8.5% from the previous price of ₦875 per litre. This new price was implemented on Tuesday and is reflected at various NNPCL retail outlets across Abuja, including locations along the Kubwa Expressway, Gwarimpa, Wuse Zone 6, and Zone 4.

Some stations have adjusted their prices to between ₦960 and ₦980 per litre. The price hike is attributed to an increase in global crude oil prices and follows a similar adjustment by Dangote Refinery, which raised its gantry petrol price to ₦874 per litre.

The Independent Petroleum Marketers Association of Nigeria (IPMAN) and the Petroleum Product Retail Outlet Owners Association of Nigeria (Petroan) have confirmed the price increase, indicating that consumers will continue to face challenges due to rising transport and living costs. The fluctuation in petrol prices in Nigeria remains closely tied to global oil market dynamics.