The Nigerian National Petroleum Company Limited (NNPCL) has increased petrol pump price.
A market survey conducted on Tuesday revealed that most NNPCL retail outlets in Abuja and surrounding areas have adjusted their prices to between N1,395 and N1,430 per litre, reflecting an increase of N50 to N85 per litre.
According to sources, the new pricing has already been implemented at NNPCL stations in key locations across the Federal Capital Territory, including Airport Junction, Gwarinpa, Kubwa Expressway, and Wuse Zone 4.
Meanwhile, MRS filling stations raised retail petrol pump price to N1,395 per litre in response to Dangote Refinery increasing its gantry price to N1,265 per litre.
The review of rising gasoline costs comes as crude benchmarks Brent and West Texas Intermediate (WTI) climbed to $107 and $103 per barrel, respectively, following a severe escalation in military strikes involving the US and Iran last week.
Read Also:Â Fresh Petrol Price Hike Looms as Crude Oil Surges Above $105
Backstory…
Recall that earlier reports by NaijaEyes revealed that Petrol  prices had jumped to N1,470/litre across some areas of the Federal Capital Territory and across the nation.
The latest increase followed another adjustment in petrol prices by major marketers after the Dangote Petroleum Refinery raised its gantry price by ₦85, from ₦1,265 to ₦1,350 per litre. Pump prices have consequently risen across several locations, with petrol now approaching ₦1,500 per litre in parts of the country.
In Kano, for instance, motorists reported buying petrol at about ₦1,470 per litre, while prices in Abuja and other major cities have also moved upwards. However, pump prices continue to vary by location and filling station.
Prior to this, on September 11, Nigerian petroleum product traders, marketers, depot owners and refiners had announced that they are considering another petrol  price hike as crude oil  prices climb above $105 per barrel.
