The Nigerian National Petroleum Company Limited, NNPCL, has increased its Premium Motor Spirit, PMS, pump price despite Dangote Refinery’s free petrol delivery initiative and falling crude oil prices.
A market survey by YEMMEY NEWS on Tuesday, an Eid-ul-Mawlid public holiday, showed that NNPCL retail outlets in Abuja and its environs had raised their petrol pump price to N1,270 per litre, up from N1,250.
This means that the state-owned filling stations have adjusted their petrol pump price by N20 per litre.
NNPCL’s fuel price hike comes despite Dangote Refinery’s expansion of its free petrol delivery initiative to 10 destinations in Nigeria, including Abuja, at N1,185 per litre.
Earlier, MRS filling stations raised their petrol price by N20 to N1,230 per litre.
YEMMEY NEWS reports that following the latest fuel price movement, NNPCL’s petrol is now between N15 and N40 per litre more expensive than MRS, Geregu, Ranoil, Emedab, Mobil and other filling stations in Abuja and its environs.
Meanwhile, other filling stations, such as Empire and AA Rano, dispense petrol at between N1,275 and N1,299 per litre, higher than the price at NNPCL outlets.
This means that Nigerians now buy petrol at between N1,230 and N1,299 per litre in Abuja and its environs.
YEMMEY NEWS reported that Brent and West Texas Intermediate, WTI, crude blends had dropped significantly to $88.80 and $81.86 per barrel, respectively, at the time of reporting.
