The Nigerian National Petroleum Company Limited (NNPCL) has increased the price of gasoline at the pump in the Federal Capital Territory from N965 to N990 per liter.
In Lagos, they also increased the price per liter from N925 to N960.
This is in spite of Tuesday’s slight drop in the price of crude oil.
The prices have been changed, according to checks conducted at a few of the gas stations using this medium.
In collaboration with MRS filling station, Ardova, and Heyden, the Dangote refinery stated a retail price of N970, however this amount is N20, or 2.1% extra.
The price change is in line with the petroleum industry’s deregulation policy, which permits price fluctuations based on supply and demand, and also illustrates current market realities.
This increase comes after recent industry changes that are anticipated to change Nigeria’s gasoline supply chain, such as the start of loading operations at the Dangote refinery.
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Remember how the Dangote Petroleum Refinery and other depot owners increased the price of gasoline on Friday, causing the pump prices to range from N1,050 to N1,150 per liter.
The $20 billion facility increased its PMS at its loading gantry from N899/liter to N955/liter.
Dealers affirmed that PMS prices would keep rising because crude oil, the primary ingredient in fuel manufacture, has been rising recently.
