State-owned Nigerian National Petroleum Company Limited (NNPCL) has raised its pump price for Premium Motor Spirit (PMS) to ₦1,270 per liter across Abuja and surrounding areas, marking a ₦20 increase from its previous rate of ₦1,250 per liter.
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The unexpected price hike was observed during a market survey on Tuesday—an official Eid-ul-Mawlid public holiday—and comes despite falling global crude oil benchmarks, with Brent and West Texas Intermediate (WTI) dropping to $88.80 and $81.86 per barrel, respectively.
The move also coincides with Dangote Refinery expanding its direct petrol delivery scheme across 10 major destinations, offering fuel to Abuja marketers at a lower rate of ₦1,185 per liter.
Independent retail outlets across the Federal Capital Territory have adjusted their pricing structure, creating a wide cost variance for motorists:
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MRS Filling Stations: Increased prices by ₦20 to ₦1,230 per liter.
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Competitor Stations (MRS, Mobil, Ranoil, Geregu, Emedab): Retailing between ₦15 and ₦40 cheaper per liter than NNPCL.
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Higher-Tier Outlets (Empire, AA Rano): Dispensing petrol at ₦1,275 to ₦1,299 per liter.
Across the FCT, consumers are currently purchasing petrol at prices ranging between ₦1,230 and ₦1,299 per liter. The shift underscores growing friction between state-managed retail adjustments, domestic refining pricing models, and international crude cost trends.
CULLED FROM DAILYPOST
