The Nigerian National Petroleum Company Limited (NNPCL) has increased the pump price of Premium Motor Spirit (PMS), commonly known as petrol, at its retail outlets.
A market survey conducted on Tuesday showed that NNPCL filling stations in Abuja and its surrounding areas raised the price of petrol to N1,270 per litre from N1,155 per litre.
The latest adjustment represents an increase of N115 per litre.
The price hike comes amid growing uncertainty in Nigeria’s downstream petroleum sector. On Monday, several NNPCL and MRS filling stations in Abuja were closed, while other retail outlets increased their pump prices.
Depot owners and petroleum marketers have now raised petrol prices twice within the past week.
Last week, the Dangote Refinery resumed the sale of refined petroleum products in US dollars, a move that has intensified concerns over fuel pricing in the domestic market.
