Fuel Pump.webp
The Digest:

In a familiar rhythm of economic strain, the cost of mobility shifts upward once more. The Nigerian National Petroleum Company Limited (NNPCL) has increased the pump price of Premium Motor Spirit (PMS) to N905 per litre at its retail outlets in Abuja, a N15 rise attributed to recent supply chain disruptions. Rooted in the Storm.

Key Points:
  • NNPCL has increased the pump price of petrol from N890 to N905 per litre.
  • The adjustment represents a N15 (1.7%) upward increase.
  • The hike is attributed to supply disruptions from the recent PENGASSAN strike.
  • IPMAN President stated the strike affected product distribution.
  • Independent marketers currently sell fuel between N885 and N895 per litre.
  • The strike was over a labour dispute with the Dangote Refinery.
  • Federal Government intervention led to the suspension of the industrial action.
This incremental increase underscores the continued vulnerability of fuel prices to local disruptions within Nigeria's energy sector.

Sources: Daily Post