<\/p>\n
By Adenike Lawal<\/p>\n
The Nigerian National Petroleum Company Limited (NNPCL), has increased the pump price of petrol to \u20a6945 per litre in Abuja and \u20a6915 in Lagos, citing rising upstream and global market pressures.<\/p>\n
The new rates, implemented at NNPC retail stations on Monday, mark a sharp hike from \u20a6910 in Abuja and \u20a6870 in Lagos, adding to the burden on consumers grappling with surging living costs.<\/p>\n
This adjustment follows Dangote Petroleum Refinery\u2019s ex-depot price increase from \u20a6825 to \u20a6880 per litre, prompting similar upward shifts across the downstream sector.<\/p>\n
At NNPCL stations in Kubwa and Obasanjo Way, Abuja, the new price of \u20a6945 was clearly displayed.<\/p>\n
Lagos stations, including those on Badagry Expressway and in Igando, reflected the \u20a6915 per litre rate.<\/p>\n
Private retailers have also responded. MRS adjusted its price to \u20a6925, TotalEnergies to \u20a6910, and smaller independents like Oluwafemi Arowolo Petroleum to \u20a6920.<\/p>\n
Depot prices from major operators including Pinnacle, NIPCO, and Wosbab have climbed to \u20a6920-\u20a6925 per litre. The increase is driven by global crude oil price hikes and a weakening naira, compounded by geopolitical tensions such as recent U.S.-Israeli airstrikes on Iranian nuclear sites.<\/p>\n
Fuel pricing analyst Olatide Jeremiah warned that depot prices could hit \u20a61,000 per litre if Dangote suspends supply or if global oil prices continue to surge.<\/p>\n
\u201cThis is just the beginning,\u201d Jeremiah said. \u201cWithout intervention, petrol could soon be out of reach for many Nigerians.\u201d<\/p>\n
The price hike is expected to worsen inflation and drive up transport, food, and service costs, deepening economic hardship for households across the country.<\/p>\n","protected":false},"excerpt":{"rendered":"
By Adenike Lawal The Nigerian National Petroleum Company Limited (NNPCL), has increased the pump price of petrol to \u20a6945 per litre in Abuja and \u20a6915 in Lagos, citing rising upstream and global market pressures. The new rates, implemented at NNPC retail stations on Monday, mark a sharp hike from \u20a6910 in Abuja and \u20a6870 […]<\/p>\n","protected":false},"author":29,"featured_media":68821,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[172],"tags":[],"class_list":["post-68820","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"aioseo_notices":[],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/68820","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/users\/29"}],"replies":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/comments?post=68820"}],"version-history":[{"count":1,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/68820\/revisions"}],"predecessor-version":[{"id":68822,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/68820\/revisions\/68822"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/media\/68821"}],"wp:attachment":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/media?parent=68820"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/categories?post=68820"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/tags?post=68820"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}