The Nigerian National Petroleum Company Limited (NNPCL) has increased its petrol pump price to ₦1,405 per litre from the previous price of ₦1,370.
The latest adjustment represents an increase of ₦35 per litre, which could mean higher fuel expenses for motorists, transport operators and other Nigerians who depend on petrol for their daily activities.
The price change comes amid continued fluctuations in Nigeria’s downstream petroleum market, where fuel prices are influenced by supply costs, distribution expenses and market conditions.
The increase may also put additional pressure on transportation fares and the cost of goods and services if transport operators and businesses pass on the extra expenses to consumers.
However, the extent of the impact will depend on how the price adjustment affects fuel stations and transport operators in different parts of the country.
Motorists are advised to confirm prices at nearby filling stations, as pump prices may vary by location and retailer.
The development adds to the ongoing concerns over the cost of living in Nigeria, with petrol prices remaining a major factor affecting household spending and business operating costs.
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