BREAKING: NNPC RAISED PRICE OF PETROL TO N1060 PER LITRE FOR THIRD TIME IN 2 MONTHS
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The Nigerian National Petroleum Company Limited (NNPCL) has raised the price of Premium Motor Spirit (PMS), commonly referred to as gasoline, to N1,025 and N1,060 per litre, in Lagos and Abuja respectively.
The revised pricing were shown on NNPCL stations in Lagos and Abuja as of Tuesday morning.
As Nigerians continue to struggle financially, the price of fuel will rise for the third time in two months.
While other gas stations sold for between N1, 150 and N1200 per liter, NNPCL filling stations in Lagos and Abuja raised their pump prices to N998 and N1030, respectively, on October 9. It cost N898.78 a liter in September.
Petrol prices have soared from N145 to over N1,000 after President Tinubu assumed office on May 29, 2023, and declared the end of the fuel subsidy.
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As suffering Nigerians bemoan the hardship, the economy has been strained by the ongoing price increases, which have increased transportation expenses and fueled inflation.
Many drivers have also been compelled by the circumstances to give up driving and use public transit instead.
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