NNPCL Raises Petrol Price to ₦1,270 per Litre in Abuja

The Nigerian National Petroleum Company Limited (NNPCL) has increased the price of petrol at its retail stations in Abuja and surrounding areas from ₦1,250 to ₦1,270 per litre. This adjustment means customers now pay ₦20 more per litre for Premium Motor Spirit (PMS) than previously.

Retailers such as MRS, Geregu, Ranoil, Emedab, and Mobil have been observed selling petrol below the new NNPCL price, with MRS raising its price by ₦20 but still offering petrol at approximately ₦1,230 per litre, resulting in a ₦40 difference from the NNPCL rate. Conversely, some stations, including Empire and AA Rano, charge between ₦1,275 and ₦1,299 per litre, surpassing the NNPCL's latest price.

This price increase by NNPCL coincides with a decrease in international crude oil prices, with Brent crude trading around $88.80 per barrel and West Texas Intermediate (WTI) at about $81.86 per barrel at the time of the report.