NNPCL Raises Petrol Price Again, Pump Price Hits ₦1,270 Per Litre

The Nigerian National Petroleum Company Limited (NNPCL) has increased the pump price of Premium Motor Spirit (PMS), commonly known as petrol, at its retail stations in Abuja and surrounding areas.

According to checks conducted by industry observers, the state-owned oil company adjusted its petrol price from ₦1,250 to ₦1,270 per litre, representing a ₦20 increase per litre.

The latest adjustment means motorists purchasing petrol from NNPCL outlets in the Federal Capital Territory and neighbouring areas will now pay more for the product.

However, several independent marketers are currently selling below the new NNPCL price. MRS stations, for instance, were reported to have increased their price by ₦20 to about ₦1,230 per litre, leaving a ₦40 difference compared with NNPCL’s latest rate.

Other marketers, including Geregu, Ranoil, Emedab and Mobil, were also reportedly selling petrol below the new NNPCL price in some locations.

Meanwhile, some filling stations have moved in the opposite direction, with outlets such as Empire and AA Rano reportedly dispensing petrol at prices ranging from ₦1,275 to ₦1,299 per litre.

The latest adjustment comes amid movements in global crude oil prices. At the time of the report, Brent crude was trading at approximately $88.80 per barrel, while West Texas Intermediate (WTI) stood at about $81.86 per barrel.

The development is expected to attract further attention from motorists and consumers, particularly as pump prices continue to vary significantly among filling stations across the country.

Separately, industry stakeholders have commended the leadership of NNPCL and the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) for what they described as progress in boosting crude oil production, restoring investor confidence and attracting new investments into Nigeria’s petroleum sector.

The Citizens Forum for Energy Accountability and Development (CFEAD) said recent developments announced by NNPCL Group Chief Executive Officer, Bayo Ojulari, and NUPRC Commission Chief Executive, Oritsemeyiwa Eyesan, indicated that ongoing reforms and improved operational discipline could strengthen the petroleum industry and enhance its contribution to Nigeria’s economic growth.