The Nigerian National Petroleum Company Limited (NNPCL) has increased the pump price of Premium Motor Spirit (petrol) by N115 per litre at its retail outlets. In Abuja and surrounding areas, the price rose from N1,155 per litre to N1,270 per litre, marking a significant hike.
Other Petrol Stations Follow Suit
Other petrol stations have also raised their prices in response to NNPCL's move. However, some NNPCL and MRS filling stations in Abuja have closed amid the increment.
Price Hikes Twice in Less Than a Week
In less than a week, depot owners and marketers have increased petrol prices twice. This rapid adjustment comes after the Dangote Refinery resumed the sale of refined petroleum products in dollars, which has influenced market dynamics.
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