NNPC Raises Retail Pump Price to N905/L, Depot Prices Drop: Fuel Market Challenges Persist

Petrol prices at depots have decreased while the NNPC raised the retail pump price to N905 per liter, widening the gap between wholesale and retail prices. The NNPC's move has led to challenges in fuel distribution logistics, with consumers yet to feel relief despite marginal discounts at depots.

Key petroleum hubs like Lagos and Port Harcourt saw slight declines in PMS prices, indicating improving supply levels. However, the market remains volatile, with ongoing challenges in the fuel distribution sector.

The President of the Independent Petroleum Marketers Association highlighted the persisting issues in the industry.