The Nigerian National Petroleum Company Limited (NNPC) and other major oil marketers have once again increased the pump price of Premium Motor Spirit, commonly known as petrol, with motorists now paying as high as N955 per litre in parts of the country
The latest hike comes just a week after the previous adjustment, sparking fresh concerns over rising transportation and living costs.
In Abuja, NNPC retail outlets were observed dispensing petrol at N955 per litre on Monday, while some stations in Lagos sold the product for as high as N992 per litre. This development has led to long queues across several filling stations as motorists hurried to purchase fuel before further increases take effect.
According to reports, the increment was triggered by supply and logistics challenges affecting distribution nationwide. Industry sources disclosed that the Dangote Refinery and other suppliers have been experiencing operational constraints, leading to limited allocation to independent marketers. “There have been difficulties in maintaining steady supply due to transportation and distribution bottlenecks,” one marketer explained.
Meanwhile, the hike has begun to impact daily life across major cities, with transport fares surging and commodity prices following suit. Commercial drivers lamented the hardship the new price has brought, saying that “passengers are finding it difficult to cope with the frequent fare increases.”
Economic analysts have warned that the rising cost of fuel will further worsen inflation, which has already strained household incomes. They urged the Federal Government to intervene by ensuring consistent supply and exploring ways to stabilize the market. “Without immediate action, Nigerians may continue to face unbearable economic pressure,” one analyst stated.
The NNPC has not yet issued an official statement addressing the latest adjustment, but sources within the company insist the move was necessary to reflect current market realities and sustain fuel availability nationwide.