The Nigerian National Petroleum Company Limited (NNPCL) has increased the pump price of Premium Motor Spirit (PMS), commonly known as petrol, to N1,345 per litre in Abuja.
A market survey conducted on Monday showed that NNPCL filling stations in Gwarimpa, Wuse Zones 4 and 6 and other parts of the Federal Capital Territory had adjusted their pump prices from N1,270 to N1,345 per litre.
The latest adjustment represents an increase of N75 per litre.
An attendant at an NNPCL filling station, who spoke on condition of anonymity, confirmed the development.
“Our petrol pump price was raised to N1,345 per litre today (Monday),” the attendant said.
The latest increase comes days after NNPCL raised its petrol price by N20, from N1,250 to N1,270 per litre on 25 August.
Meanwhile, other major fuel marketers, including MRS, Ranoil and Empire Energy, increased their petrol prices by between N20 and N80 per litre over the weekend.
The development also follows an increase in the petrol gantry price by Dangote Refinery, which raised its price by N65 to N1,265 per litre.
The refinery had recently expressed concern over rising petrol imports and threatened to restrict petrol sales to importers and marketers amid the surge in fuel imports.
Data from the Nigerian Midstream and Downstream Petroleum Regulatory Authority indicated that petrol imports rose to 43.3 per cent in July.
The latest fuel price adjustments also come amid rising international crude oil prices, with Brent crude reportedly trading at $91.20 per barrel and West Texas Intermediate at $86.32 per barrel.
The latest increase is expected to further raise concerns among motorists and consumers over the impact of rising fuel prices on transportation and the cost of goods and services.
