News
NNPC increases petrol price to N998 per litre
The Nigerian National Petroleum Company (NNPC) Limited has raised the price of premium motor spirit (PMS), commonly known as petrol, at its retail outlets.
According to TheCable, the price in Lagos surged to N998 per litre on Wednesday, up from N855 per litre, which was the rate set in September.
At NNPC stations located at Ago Palace Way, Okota, and Second Rainbow along the Apapa Expressway, the new price for PMS was fixed at N998 per litre.
In Abuja, an NNPC retail station in Wuse Zone 4 sold petrol at N1,003 per litre.
Private filling stations are also adjusting their prices in line with NNPC’s hike, with the Mobil station on College Road, Ogba, aligning its pump price with that of NNPC.
This price adjustment follows weeks of NNPC lifting petrol from the Dangote Petroleum Refinery’s gantry after lengthy price negotiations.
On September 15, NNPC announced it was purchasing petrol from the Dangote refinery at N898 per litre.
However, the Dangote refinery dismissed NNPC’s claim as “misleading and mischievous.”
The day after, NNPC announced estimated pump prices based on Dangote refinery’s set rates, projecting petrol to sell for N950 in Lagos and N999 in Abuja.
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