Nigerian National Petroleum Company Limited, NNPCL, has again responded to the rising price of crude oil in the international market. Findings showed that crude oil prices rose to $82 and $88 per barrel for West Texas Intermediate and Brent crude, respectively, on Monday night amid heightened tensions in the Middle East.
Our correspondent reports that in response, NNPCL retail outlets, on Tuesday, increased the pump price of Premium Motor Spirit, PMS, also known as petrol. The government-owned filling stations have raised their petrol price to N1,270 per litre from N1,155 per litre in Abuja and its environs, which means a N115 per litre increment.
It was also gathered that some NNPCL and MRS filling stations in Abuja had closed, while other retail outlets raised their petrol prices on Monday amid heightened uncertainty in the country’s downstream oil sector. Before today, some depot owners and marketers had also increased their petrol prices twice. The development is worsened as Dangote Refinery resumed the sale of crude oil in dollars.
