In the Federal Capital Territory, the price of gasoline has increased from N965 to N990 per liter in retail establishments managed by the Nigerian National Petroleum Company Limited (NNPCL).
Additionally, they increased the price per liter in Lagos from N925 to N960.
Even still, Tuesday saw a slight drop in the price of crude oil.
This medium’s checks at a few of the gas stations showed that the prices had changed.
The sum is N20, or 2.1% more than the retail price of N970 that the Dangote refinery, in collaboration with Heyden, Ardova, and MRS filling station, declared.
The price change reflects current market conditions and is consistent with the petroleum industry’s deregulation philosophy, which permits supply and demand to drive price changes.
This increase comes after recent changes in the industry, such as the start of loading operations at the Dangote refinery, which is anticipated to change Nigeria’s petroleum supply chain.
Recall that the Dangote Petroleum Refinery and many depot owners increased the price of gasoline on Friday, causing the pump prices to increase to between N1,050 and N1,150 per liter.
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At its loading gantry, the $20 billion factory increased its PMS from N899/liter to N955/liter.
Since crude oil, the primary ingredient in fuel production, has been rising recently, dealers confirmed that PMS prices would continue to rise.
