The Nigerian National Petroleum Company Limited (NNPCL) has increased the pump price of Premium Motor Spirit (PMS), commonly known as petrol, across its retail outlets in Abuja and surrounding areas.

The adjustment raises the price from N1,155 per litre to N1,270 per litre, representing an increase of N115 per litre.

The latest price hike comes amid growing uncertainty in Nigeria’s downstream petroleum market. Checks at several filling stations showed that some NNPCL and MRS outlets temporarily suspended fuel sales, while other independent marketers also revised their pump prices upward.

The development follows a series of recent price increases by fuel depot operators and marketers, who have adjusted their ex-depot prices twice within the past week.

Market observers attribute the latest adjustments to changing market dynamics after Dangote Refinery resumed the sale of refined petroleum products in US dollars, a move expected to influence fuel pricing across the distribution chain.

The increase is likely to add to transportation and logistics costs, with consumers and businesses expected to feel the impact of the higher petrol price in the coming days.