The Nigerian National Petroleum Company Limited (NNPCL) and other filling stations across the country have once again increased the price of Premium Motor Spirit, commonly known as petrol, marking the second such hike in barely a week. This series of adjustments has led to significant price increases for consumers in major cities like Abuja and Lagos.

In Abuja, DAILY POST correspondents observed that NNPCL retail outlets adjusted their petrol price to N955 per litre as of Monday. This represented an immediate increase of N50 from the N905 per litre price that was recently established, making it the second hike within a week. Specific NNPCL locations affected included outlets in Gwarimpa, Kubwa Expressway, and Wuse Zones 4 and 6. Separately, TheCable reported that the NNPCL price of N955 per litre in Abuja reflected a N65 increase from a previous rate of N890 per litre, which was the price following a reduction implemented on August 15. This suggests a complex pricing trajectory where the N905 price was an intermediate step between the August 15 reduced price and the current N955.

Similarly, Lagos residents have also experienced a substantial surge in petrol prices. The NNPC Limited increased the petrol price to N992 per litre in Lagos. This new price, observed across several NNPC retail outlets on Monday, marks a significant N127 increase from the previous rate of N865 per litre. For instance, the NNPC filling station in Ago Palace, Lagos, was observed selling petrol at N992 per litre, while in Abuja, stations like the NNPC outlet in the Federal Housing Authority, Kubwa, and another along Komolafe Road, Lugbe, also sold the commodity at N955 per litre.

The National President of the Petroleum Products Retail Outlets Owners Association of Nigeria, Billy Gillis-Harry, confirmed the fresh fuel price hike at NNPCL filling stations but did not provide a specific reason for the latest development. Beyond NNPCL, other filling stations in Abuja, such as Ranoil, AA Rano, and Mobil, have also raised their pump prices, now ranging between N920 and N930 per litre. While MRS filling stations were reportedly dispensing petrol at N851 per litre in parts of Abuja on Saturday, outlets relying on the Dangote Refinery fuel distribution scheme faced supply issues, reporting no petrol availability from Sunday through Monday.

These recent adjustments effectively reverse a previous price reduction implemented on August 15, when NNPC had lowered petrol prices to N865 per litre in Lagos and N890 per litre in Abuja. The repeated and substantial increases within a short period underscore the volatile nature of fuel pricing in the country and its immediate impact on consumers.