Petrol price hits N1,030 per litre in Abuja, N998 in Lagos

Stations of the Nigerian National Petroleum Company Limited in Abuja on Wednesday revealed new petroleum prices of  N1,030 per litre in the Federal Capital Territory, Abuja and  N998 in Lagos State.

The stations of the national oil company have raised the retail price of petrol to N1,030 in Abuja from N897 per litre.

The new price, the second increase in one month, represents a 14.8 per cent or N133 rise.

At the NNPCL mega station located in Central Area, the station did not display its price, but customers said the product was sold at N1,030.

However, checks by our correspondent at independent marketers’ stations, including Conoil and Total Energies, opposite the NNPCL headquarters, showed the product was sold at N926, but with long queues.

In Lagos NNPCL sold the product on Wednesday for N998 across its retail outlets in Lagos. This is a far cry from N855 per litre to per litre customers used to buy it.

This represents a 12.7 percent or N113 per liter increase from the price it sold as of yesterday.

The price increase kicked in early this morning, catching motorists off guards.

Recall that upon the commencement of its lifting petrol from the Dangote refinery on September 15, the NNPCL had released a new price template for petrol which put petrol price in Lagos at N950.22 per litre.