NNPC announces a fuel price increase for its pump prices across all outlets nationwide
The Nigerian National Petroleum Company (NNPC) Limited has just announced an expected fuel price increase following the ongoing conflict between Israel and Iran, which has seen global oil prices surge by 3%.
The prices rose by N50 in Lagos, from N865 to N915 per litre, while they rose by N35 in Abuja, from N910 to N945 per litre. These prices were updated on Sunday evening across all NNPCL filling stations in Kubwa Expressway, Wuse, Airport Road, and other locations in Abuja.
This comes after NNPCL’s spokesperson, Femi Soneye, resigned from his position, according to Channels.
This fuel price increase was also seen with MRS filling station, which is a major distributor of Dangote Refinery’s petroleum products. This was announced on their X account on Saturday, detailing the new fuel price increase. Their prices will now range between N925 and N955 per litre in Nigeria.
Other filling stations like TotalEnergies, Shema, and Salabas have also followed suit in increasing their pump prices. Dangote Refinery also increased its ex-depot price from N825 to N880 per litre on Friday.
Experts are also predicting that the prices will increase further as long as the Israel and Iran conflict escalates further, which will affect the global supply chain of crude oil, with Iran being a major key player in the industry.
Over the past week, crude oil prices increased nearly 3%, with West Texas Intermediate (WTI) and Brent crude reaching their highest levels since January.
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