Nigerian National Petroleum Company Limited retail stations have increased petrol prices to over $1 per liter, following the fourth price hike by Dangote Refinery last week.
According to Daily Post, checks on Monday showed that NNPCL stations in Abuja and surrounding areas raised their pump price to N1,367 per liter, up from N1,261, marking a N106 increase per liter. At the official exchange rate of N1,353.90 per dollar, this pushes domestic fuel prices above the $1 mark.
The latest adjustment follows Dangote Refinery’s price increase from N1,070 to N1,245 per liter on Friday, citing rising crude oil prices, which have surged above $110 per barrel. This hike triggered a nationwide ripple effect, with other stations, including MRS, raising prices to N1,367–N1,440 per liter.
The new pricing underscores the growing cost pressures in Nigeria’s fuel market and highlights the impact of global crude price movements on domestic petrol rates.