Retail outlets owned by the Nigerian National Petroleum Company Limited have effected an upward adjustment in the pump price of the Premium Motor Spirit, also known as petrol, to N945 per litre in the Federal Capital Territory on Monday.
The price adjustments come just days after the Dangote Petroleum Refinery increased its ex-depot price of petrol from N825 to N880 per litre, sparking an industry-wide response, and intensifying the financial strain on consumers already grappling with high transportation and living costs.
However, The Chief Executive Officer of PetroleumPrice.ng, Olatide Jeremiah, stated that Private depots are likely to increase petrol price to N1,000 in the coming days with the current trend observed in the market.
