Barely three weeks after jerking up the price per litre of petrol, retail outlets owned by the Nigerian National Petroleum Company Limited (NNPCL) adjusted the pump price of the commodity on Tuesday in Lagos from ₦998 to ₦1, 025.
A few NNPCL outlets that sold the premium commodity sold it at ₦1,025 while others owned by independent marketers sold a litre of petrol as high as ₦1,100.
The fresh increase followed the October 9, 2024 hike, from ₦855 to ₦998. Also, on September 2, 2024, the retail company hiked the price per litre of petrol from ₦568 to ₦855, sparking outrage.
Since the “Subsidy is gone” presidential declaration in May 2023, the NNPCL has gradually increased petrol pump prices from ₦184 in Lagos to ₦1,025.
Though the NNPCL has not officially stated its position on the latest increase in petrol prices, it hinted at a fresh increase when it began loading its first batch of petrol from the Dangote Refinery in mid-September.
Then, the NNPCL said it got petrol at ₦898 per litre from the private refinery and would sell it for ₦950 per litre in Lagos and ₦1,019 in Borno.
