NNPC Publishes New Petrol Price Breakdown Amid Rising Market Costs

NNPC Publishes New Petrol Price Breakdown Amid Rising Market Costs

The Nigeria National Petroleum Company Limited (NNPC) has issued a revised breakdown of the estimated petrol prices purchased from the Dangote refinery.

Earlier today, PUNCH Online reported that NNPC released a detailed chart showing the refined petrol prices it acquired from the Dangote refinery on Sunday, September 15.

The oil corporation stated that payments to the Dangote refinery for September 2024 petrol are being made in US dollars, with Naira transactions set to begin on October 1, 2024.

According to the statement, “NNPC Ltd. has announced the estimated prices for Premium Motor Spirit (PMS), commonly known as Petrol, sourced from the Dangote Refinery, to be sold at retail stations nationwide.”

“The estimated prices reflect the agreed terms between NNPC Ltd. and Dangote Refinery, considering the current international gasoline prices and prevailing exchange rates, in accordance with the Petroleum Industry Act (PIA) 2021.”

NNPC also confirmed that payments for September 2024 petrol are being conducted in USD, with Naira payments scheduled to start on October 1, 2024.