BREAKING: NNPCL Announces New Fuel Price Hike, Increases Cost Per Litre

BREAKING: NNPCL Announces New Fuel Price Hike, Increases Cost Per LitreFuel prices at filling stations operated by the Nigerian National Petroleum Company Limited (NNPC) have risen to N1,030 per litre, effective Wednesday morning.....KINDLY READ THE FULL STORY HERE▶

This increase follows a previous hike less than a month ago, when prices exceeded N850 per litre. Reports indicate that this latest adjustment aligns with a directive from NNPC management, which mandated an immediate increase of the official fuel price from N568 to N855 in September.

Additionally, major oil marketers are set to begin direct purchases of Premium Motor Spirit (commonly known as petrol) from the Dangote Petroleum Refinery between Thursday and next week, as NNPCL exits its role as the sole off-taker of the product from the $20 billion facility.

Sources within NNPC and the Major Energies Marketers Association of Nigeria have confirmed that NNPCL is no longer the exclusive off-taker for Dangote petrol, allowing other stakeholders in the downstream sector to purchase products directly from the refinery. There are also unconfirmed reports that the Nigerian Midstream and Downstream Petroleum Regulatory Authority has released new petrol prices, which exceed current pump prices at various locations across the country.

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