Again, NNPC Increases Petrol Price, New Rates Emerge at Filling Stations
- NNPCL outlets in parts of Abuja began selling petrol at N1,345 per litre on Monday, a N75 jump from the previous rate
- MRS, Ranoil, and Empire Energy also raised their pump prices, with increases ranging between N20 and N80 per litre
- Dangote Refinery triggered the latest round of hikes after raising its gantry price three times in less than two weeks
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The Nigerian National Petroleum Company Limited (NNPCL) has raised its petrol pump price to N1,345 per litre at its stations, marking the second increase in less than a week after it moved the rate from N1,250 to N1,270 per litre just days earlier.
The adjustment adds N75 to the previous N1,270 per litre figure.
Source: UGC
Other Filling Stations Also Raise Rates
Several other major filling stations have moved in the same direction. MRS, Ranoil, and Empire Energy all reviewed their prices upward, with rates now sitting between N1,310 and N1,320 per litre, compared to the N1,230 to N1,299 per litre range they previously charged.
MRS recorded the steepest individual increase at N80 per litre, while Ranoil added N45 and Empire Energy adjusted its price up by N25.
Dangote Refinery's Third Hike in Nine Days
The broader price surge follows a series of upward adjustments at Dangote Petroleum Refinery.
On August 29, the refinery raised its PMS gantry price by N65, bringing it to N1,265 per litre.
This came after earlier increases on August 20 and August 25, when the refinery moved its price from N1,165 to N1,185 per litre, then to N1,200 per litre. In total, the refinery added N100 per litre to its benchmark within nine days.
Before Dangote's latest price took effect across depots, several Lagos terminals including Pinnacle, Bono, Integrated, and African Terminal were still selling at about N1,201 per litre, while Aiteo held at N1,200.
As these operators replenish stock at the higher refinery benchmark, analysts expect depot prices to climb in line with the new rate.
More petrol price increase expected
The N1,300 per litre mark is emerging as a likely new floor for the downstream market, though how quickly individual stations reach that level will depend on existing stock levels, transportation costs, and margins.
Adding to the pressure, Brent crude rose above $90 per barrel on Monday after fresh US-Iran military strikes raised concerns over global oil supply and the safety of shipping lanes through the Strait of Hormuz.
Source: Getty Images
Higher crude costs raise the replacement cost of imported petroleum products, which could feed through into further pump price increases for Nigerian motorists in the coming days.
Depots new prices
Earlier, Legit.ng reported that the Dangote Petroleum Refinery had commenced direct petrol supplies to fuel marketers in six states without charging delivery fees, as part of efforts to improve fuel distribution across Nigeria.
The initial phase of the initiative covers Lagos, Ogun, Rivers, Kaduna, Delta, and the Federal Capital Territory (FCT), Abuja.
The refinery said additional states would be included in the programme as the distribution rollout expands.
Source: Legit.ng
