The Nigerian National Petroleum Company (NNPC) Limited has reduced the pump price of premium motor spirit (PMS), better known as petrol, to N915 per litre in Lagos and N955 per litre in Abuja.
According to TheCable, NNPC retail outlets on Monday sold the product for N915 per litre in Lagos a N50 increase from the previous price of N865 per litre.
In Lagos, the price of the product rose to N915 per litre at the national oil company’s Abule Ado retail branch.
Similarly, at two NNPC retail outlets on the Ago Palace Way, Okota, the price of petrol was revised upward to N915 per litre.
Also, NNPC retail outlets increased the price of the product to N955 per litre in Abuja from the previous price of N890 per litre.
The price of petrol increased to N955 per litre at the NNPC retail station at the Kubwa Expressway, Abuja.
On July 31, the National Bureau of Statistics (NBS) said residents of Jigawa, Ondo, and Lagos paid the highest retail price of petrol in June.
Meanwhile, Yobe, Kogi, and Imo had slightly lower prices, averaging between N950 and N987 per litre still far from affordable for many Nigerians.
The new hike, though unannounced, adds to the growing concerns over rising fuel costs and their ripple effect on transport fares, food prices, and general living expenses.
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