Fuel Price Climbs Again As NNPCL Adjusts PMS Rates
By ESTHER McWILLIS-IKHIDE
THE Nigerian National Petroleum Company Limited (NNPCL) has adjusted the pump price of premium motor spirit (PMS), commonly known as petrol, with new rates taking effect in major cities across the country.
On Wednesday, NNPCL retail outlets in Lagos confirmed that petrol was selling at ₦835 per litre, while consumers in Abuja were paying ₦839 per litre. The increase signals another upward movement in fuel pricing amid ongoing changes in Nigeria’s downstream petroleum sector.
Industry watchers attribute the latest hike to a combination of rising supply and logistics costs, persistent foreign exchange volatility, and market realignments following pricing decisions from the Dangote Petroleum Refinery, which has become a key influencer in the domestic fuel market.
Impact on Consumers
Although the Federal Government maintains that fuel pricing is now fully deregulated following the removal of subsidy, frequent price adjustments by NNPCL continue to exert pressure on households already grappling with elevated living costs.
Commuters in major cities are expected to feel the immediate impact, as transport operators typically respond to fuel price increases with higher fares. Analysts warn that the effect could extend beyond transportation, potentially triggering increases in food prices and other essential goods, particularly in urban centres with high fuel consumption.
Uncertainty Over Nationwide Pricing
As of the time of reporting, NNPCL had not released an official nationwide pricing template. This has left room for price variations across states, driven largely by differences in transportation costs, depot proximity and regional supply dynamics.
Energy analysts note that while deregulation allows market forces to determine prices, the absence of a uniform pricing guide continues to fuel uncertainty for consumers.
The latest adjustment reinforces concerns that fuel prices may remain unstable in the near term, especially as global oil market trends and domestic exchange rate pressures persist.
