NNPCL Raises Fuel Price Again in Less Than 24 Hours as Dangote Refinery Hikes Gantry Cost
The Nigerian National Petroleum Company Limited (NNPCL) has implemented another increase in the pump price of Premium Motor Spirit (PMS), marking the second adjustment in less than twenty-four hours. This latest price hike follows a fresh gantry price increase from the Dangote Refinery, which has significantly impacted fuel costs across the nation.
Immediate Impact on Abuja Motorists
Across various parts of Abuja and its surrounding areas, NNPCL stations on Sunday pushed their pump price from ₦967 to ₦1,082 per litre. This represents a substantial ₦115 jump in a single move, catching many motorists off guard. The sudden change has left drivers facing unexpected expenses, with prices fluctuating rapidly at filling stations.
Dangote Refinery's Role in Price Volatility
The situation traces directly back to the Dangote Refinery, which operates a 650,000-barrel-per-day facility. The refinery raised its gantry price by ₦121 per litre, marking its second increase in just four days. This follows an earlier adjustment where the refinery added ₦100 per litre to the price of petrol supplied to marketers.
The refinery has suspended loading operations three times within one week, with each suspension followed by a price hike. Industry observers note that another increase is likely on Monday, creating an atmosphere of uncertainty in the fuel market.
Global Factors Driving Domestic Prices
The company cites rising crude oil prices as the primary reason for these adjustments. Global markets have been unsettled by tensions linked to the Iran–US–Israel conflict in the Middle East, pushing crude above $90 per barrel. This international pressure travels down the supply chain, from crude oil to refinery operations, then to depots, and eventually to the pump where everyday Nigerians purchase fuel.
Recent Price History and Cumulative Increases
The current volatility didn't begin on Sunday. On Saturday alone, prices had already shifted twice. First, there was a slight review from N960 to N967 per litre, representing a ₦7 increase. Before that, another small change had moved prices upward from N960.
When all recent revisions are combined, NNPCL retail outlets have raised petrol prices by approximately ₦207 per litre within a single week. This dramatic increase has transformed the fuel landscape in a remarkably short period.
Widespread Impact Across Multiple Stations
The changes are already visible across numerous stations in Abuja, including locations along Kubwa Expressway, Gwarimpa, Wuse Zone 6, Wuse Zone 4, and Lifecamp. Other major marketers have followed suit, with stations operated by MRS Oil Nigeria, AA Rano Nigeria Limited, and Empire Energy Nigeria also adjusting their pump prices.
In many cases, petrol now sells between ₦1,092 and ₦1,150 per litre, compared with the ₦960 to ₦980 range observed just days ago. This represents a significant burden for consumers already grappling with economic challenges.
Industry Analysis and Future Outlook
Industry players warn that the volatility may not stop immediately. According to Billy Gillis‑Harry, the National President of the Petroleum Products Retail Outlets Owners Association of Nigeria, the fluctuations are closely tied to global oil market instability.
"The Dangote Refinery gantry petrol price hike and retail price adjustment are due to crude price volatility caused by the Iran–US–Israel conflict affecting the Gulf region," he explained.
Despite this explanation, Gillis‑Harry urged regulators in Nigeria's oil sector to intervene and stabilize the situation before the swings become more severe. For now, motorists are left watching the numbers on filling station boards change, sometimes within hours, with each new adjustment quietly reshaping the cost of transportation across the country.
