NNPCL and Other Filling Stations Hike Petrol Prices in Abuja Despite Crude Oil Price Drop
The Nigerian National Petroleum Company Limited (NNPCL) and other filling stations in Abuja have increased the pump price of Premium Motor Spirit (PMS), also known as petrol.
Dangote Refinery, which supplies most of Nigeria's refined petroleum products, raised its ex-depot petrol price by N65 to N1,265 per litre on August 30. This triggered fresh pump price increases across Abuja, with NNPC retail outlets increasing their pump price from N1,250 to N1,270 per litre.
Ay Shafa also raised its petrol price from N1,250 to N1,270 per litre, while Optima increased its pump price from N1,260 to N1,300 per litre. This means that petrol prices are now above N1,300 at some filling stations in the nation's capital.
The increase comes despite a decline in international crude oil prices. Benchmark crude prices fell from about $92 to $87.31 per barrel, while Brent crude stood at $88.10 per barrel, representing a 0.47% decline. West Texas Intermediate (WTI) fell 0.16% to $83.40 per barrel.