Retail outlets operated by the Nigerian National Petroleum Company Limited (NNPCL) have increased petrol prices in the wake of a fresh gantry price hike by Dangote Refinery.
Findings by Nigerian Newssphere on Monday showed that NNPCL stations across Abuja and nearby areas adjusted pump prices over the weekend to N1,367 per liter, up from N1,261.
The N106 increase pushes the cost of petrol beyond $1 per liter, based on the official exchange rate of N1,353.90/$ published by the Central Bank of Nigeria.
The adjustment follows Dangote Refinery’s latest upward review of its petrol gantry price last Friday, citing rising global crude oil prices, which have climbed above $110 per barrel.
The refinery’s decision has triggered a ripple effect across the country, with several marketers raising pump prices. MRS and other affiliated stations had earlier increased their retail prices to between N1,367 and N1,440 per liter.
