By Opeyemi Adelakun
The Nigerian National Petroleum Company Limited (NNPCL) has increased the pump price of Premium Motor Spirit, commonly known as petrol, from N1,250 to N1,270 per litre at its retail outlets in Abuja and neighbouring areas.
A market survey conducted on Tuesday showed that the state-owned oil company had adjusted its petrol price upward by N20 per litre.
The latest increase comes despite the Dangote Refinery’s expanded initiative to supply petrol to selected destinations across the country, including Abuja, at N1,185 per litre.
The development also comes amid a decline in international crude oil prices, with Brent crude trading at $88.80 per barrel and West Texas Intermediate (WTI) at $81.86 per barrel at the time of the report.
The latest NNPCL adjustment has widened the price gap between the company’s outlets and some other filling stations in Abuja.
MRS filling stations, for instance, reportedly increased their pump price by N20 to N1,230 per litre, making it N40 cheaper than the new NNPCL price.
Other marketers, including Geregu, Ranoil, Emedab and Mobil, were also reportedly selling petrol below the NNPCL price in some locations.
However, some outlets, including Empire and AA Rano, were dispensing the product at between N1,275 and N1,299 per litre.
Consequently, motorists and other petrol consumers in Abuja and its environs are currently buying petrol at prices ranging from N1,230 to N1,299 per litre, depending on the filling station.
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