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Petrol Prices Rise to N1,299 Per Litre in Abuja

Petrol prices have risen across several filling stations in Abuja, with motorists now paying between N1,230 and N1,299 per litre...

Petrol prices have risen across several filling stations in Abuja, with motorists now paying between N1,230 and N1,299 per litre following a fresh increase in the cost of Premium Motor Spirit (PMS).

Checks in parts of the Federal Capital Territory on Saturday showed that MRS filling stations had raised their pump price from N1,210 to N1,230 per litre.

Other major retailers, including NNPCL, Rainoil, Empire Energy and Nigerian Independent Petroleum Company, were selling petrol at prices ranging from N1,250 to N1,299 per litre.

A manager at an MRS outlet said the company’s headquarters in Lagos instructed stations to implement the N20 increase from Friday, although no explanation was provided for the adjustment.

The latest development followed an increase in the petrol price at Dangote Refinery’s gantry, where the product price moved from N1,165 to N1,185 per litre on Friday.

The increase comes after a period of declining petrol prices, during which many filling stations cut pump prices by at least N90 per litre following an earlier reduction in Dangote Refinery’s gantry price.

The renewed increase also comes amid higher international crude oil prices, with Brent crude trading above $94 per barrel.

 

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