The Nigerian National Petroleum Company Limited (NNPCL) has increased the pump price of petrol to N835 per litre in Lagos and N839 per litre in Abuja.
The new prices took effect on Wednesday across NNPCL retail outlets in both cities, confirming another upward adjustment in the cost of Premium Motor Spirit (PMS).
The increase comes just a day after the Dangote Petroleum Refinery raised its petrol price, pushing its ex-gantry price to N799 per litre. Following the adjustment, petrol is now selling for about N839 per litre at MRS and other partner stations nationwide.
Industry sources say the changes by both NNPCL and Dangote Refinery are already influencing prices across the downstream market, as independent marketers are expected to align their pump prices with the new rates in the coming days.
The latest hike adds to mounting pressure on motorists and businesses, as fuel costs continue to rise amid broader economic challenges.
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