Petrol Price Rises to N998 per Litre in Lagos

Nigerian National Petroleum Company Limited (NNPC) has announced a sharp increase in the price of Premium Motor Spirit (PMS), commonly known as petrol, across its retail outlets in Lagos. 

The petrol price per litre has risen from N855 to N998, marking an increase of 12.7 per cent, or N113 per litre, from yesterday’s price.

This abrupt price hike took effect early this morning, catching many motorists off guard.

Previously, after beginning to lift petrol from the Dangote refinery on September 15, the NNPC had set the petrol price at N950.22 per litre in Lagos according to a new price template. 

However, the latest increase has pushed the cost even higher, adding to the financial burden on motorists and intensifying debates over fuel pricing strategies.

The recent developments follow disagreements between the NNPCL and Dangote over petrol pricing, amid rising fuel costs nationwide as reported by the National Bureau of Statistics (NBS), which noted increases of 32.51% for petrol and 64.58% for diesel.