The Nigerian National Petroleum Company Limited (NNPCL) today increased the retail price of petrol from N897 to N1,030 per litre. This represents a 14.8% increase, or N133 per litre, marking the second petrol price hike within a month.
Though NNPCL has not yet made an official statement regarding the increase, this is the second time the company has raised petrol prices within a month.
In September 2024, the NNPCL released estimated pump prices for petrol across different states based on pricing data from the Dangote refinery.
The graph attached to the release showed that pump prices ranged between N950 and N1,200, depending on the state. However, these prices have now changed following today’s increase.
The latest price hike is expected to lead to higher transportation costs nationwide, impacting both consumers and businesses.
