The Nigerian National Petroleum Company Limited (NNPCL) has increased the pump price of Premium Motor Spirit (PMS), popularly known as petrol.
A market survey on Tuesday revealed that a majority of NNPCL retail outlets across Abuja and surrounding areas have adjusted their pump prices upward to between ₦1,395 and ₦1,430 per litre.
This reflects an upward adjustment ranging from ₦50 to ₦85 per litre by the state-owned oil firm.
The updated pricing structure has been implemented across key NNPCL stations in the Federal Capital Territory, including Airport Junction, Gwarinpa, the Kubwa Expressway, and Wuse Zone 4.
The latest increase coincides with price adjustments by major private marketers, with MRS filling stations raising pump prices to ₦1,395 per litre. The market shifts follow a sharp rise in Dangote Refinery’s wholesale gantry price to ₦1,265 per litre.
The price adjustments reflect rising global oil benchmarks, as Brent crude climbed to $107 per barrel and West Texas Intermediate (WTI) reached $103 per barrel. The surge in global energy markets follows heightened geopolitical conflict between Iran and the United States, alongside drone strikes targeting Saudi Arabia’s East-West pipeline.
