The Nigerian National Petroleum Company Limited (NNPCL) has increased the pump price of Premium Motor Spirit (PMS), commonly known as petrol, for the second time in less than 48 hours.
A market survey by DAILY POST showed that the state-owned oil company raised the price of petrol at its retail outlets to ₦1,335 per litre on Wednesday, up from ₦1,270 per litre on Tuesday.
The latest adjustment represents an increase of ₦65 per litre.
The new price was reportedly being implemented at NNPCL filling stations in Wuse Zone 6, Berger, Zone 4 and other locations across Abuja and its environs.
The development comes barely a day after NNPCL increased its petrol price by ₦115 per litre, taking it from ₦1,155 to ₦1,270 per litre.
The latest hike comes amid continued volatility in Nigeria’s downstream petroleum sector, following reports that Dangote Refinery has resumed the sale of refined petroleum products in US dollars.
The fresh increase also coincides with a rise in global crude oil prices, which reportedly climbed by nearly four per cent on Wednesday amid intensified airstrikes in the Middle East.
The repeated adjustments are expected to further increase pressure on motorists and households already grappling with rising transportation and living costs across the country.
