The Nigerian National Petroleum Company Limited (NNPCL) has increased the pump price of Premium Motor Spirit (PMS), commonly known as petrol, across several of its retail outlets.
A market survey conducted by DAILY POST on Tuesday showed that most NNPCL filling stations in Abuja and surrounding areas had adjusted their petrol prices to between N1,395 and N1,430 per litre.
The latest adjustment represents an increase of between N50 and N85 per litre by the state-owned oil company.
The new prices have been introduced at several NNPCL outlets, including those around Airport Junction, Gwarinpa, Kubwa Expressway and Wuse Zone 4, as well as other locations within the Federal Capital Territory and its environs.
The development follows a similar price increase by MRS filling stations, which reportedly raised its petrol pump price to N1,395 per litre after Dangote Refinery increased its gantry price to N1,265 per litre.
The latest petrol price review comes amid a sharp rise in international crude oil prices. Brent crude and West Texas Intermediate (WTI) were reported at about $107 and $103 per barrel, respectively, following escalating tensions involving Iran and the United States.
The development also follows reports that Iran targeted Saudi Arabia’s East-West oil pipeline, adding to concerns over potential disruptions to global energy supplies.
