The Nigerian National Petroleum Company (NNPC) Limited has raised petrol prices at its Lagos locations. This comes after a series of recent price changes in the country’s fuel market.
In December 2024, NNPC actually lowered their prices – from N1,025 to N925 per litre in Lagos, and from N1,040 to N965 per litre in Abuja. But now, NNPC petrol stations in Lagos have raised their price from N925 to N960 per litre.
Read Also: MRS, Ardova, Heyden to sell Dangote Petrol at N970/litre
Not all petrol stations are moving in the same direction, though. For example, the Mobil station across from the NNPC outlet in Lagos actually reduced its price slightly, from N990 to N980 per litre. Meanwhile, in Abuja, NNPC stations haven’t received any instructions to change their prices yet.
This price movement comes just as the Dangote Petroleum Refinery has increased its wholesale fuel price to N955 per litre at its distribution points. The reason? Global oil prices have been climbing, with Brent crude oil now reaching $81 per barrel. Oil sellers in Nigeria warn that these higher global prices are making local production more expensive, which might lead to even higher prices at the pump.
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