NNPCL raises petrol price to N1,430 per litre

The Nigerian National Petroleum Company Limited NNPCL has increased the pump price of Premium Motor Spirit PMS, commonly known as petrol, across its retail outlets.

Checks in Abuja and surrounding areas on Tuesday showed that most NNPCL stations now sell petrol between N1,395 and N1,430 per litre.

The latest adjustment represents an increase of N50 to N80 per litre, depending on the location.

The new prices have taken effect at several NNPCL outlets across the Federal Capital Territory, including stations around Airport Junction, Gwarinpa, Kubwa Expressway and Wuse Zone 4.

The development comes shortly after MRS filling stations increased their petrol price to N1,395 per litre.

MRS followed the latest adjustment in the gantry price of petrol by Dangote Refinery, which now stands at N1,265 per litre.

Meanwhile, international crude oil prices have also risen sharply.

Brent crude climbed to about $107 per barrel, while West Texas Intermediate WTI rose to around $103 per barrel.

The increase followed escalating tensions between Iran and the United States after recent strikes in the region.

Iran also attacked Saudi Arabia’s East-West oil pipeline, adding to concerns over global energy supplies.