Fuel Crisis: NNPCL Hikes Petrol Price as Dangote Expands Free Delivery to Abuja

The Nigerian National Petroleum Company Limited (NNPCL) has raised the price of petrol at its retail outlets in Abuja, despite the Dangote Refinery’s ongoing free fuel delivery programme and the recent decline in international crude oil prices.

Philips News reports that a market check conducted in Abuja and nearby areas on Tuesday found that NNPCL filling stations were selling petrol at N1,270 per litre, up from the previous price of N1,250. The adjustment represents an increase of N20 per litre.

NNPCL Raises Pump Price:

Motorists buying petrol from NNPCL stations in Abuja and surrounding locations will now have to pay the higher rate. The latest increase comes at a time when pump prices continue to differ significantly among fuel stations across the Federal Capital Territory.

The widening price gap reflects changes in the downstream petroleum market, as fuel marketers adjust their pump prices based on supply, operating costs and prevailing market conditions.

Dangote Expands Free Petrol Delivery:

The NNPCL price increase comes as the Dangote Refinery expands its free petrol delivery programme to 10 locations across Nigeria, with Abuja included among the destinations.

Under the initiative, petrol is reportedly being supplied at about N1,185 per litre, making it cheaper than the N1,270 currently charged at NNPCL outlets. The development could increase competition among fuel retailers and give motorists more alternatives when purchasing petrol.

MRS Also Increases Petrol Price:

MRS filling stations have also adjusted their pump price upwards. The company reportedly increased its rate by N20 to N1,230 per litre.

With the latest changes, petrol at NNPCL outlets in Abuja is now between N15 and N40 more expensive than prices offered by MRS, Geregu, Ranoil, Emedab, Mobil and several other retailers in the area.

However, not all filling stations are selling below the NNPCL price, as some outlets have adjusted their rates above N1,270 per litre.

Petrol Prices Differ Across Abuja:

A check of other filling stations showed that Empire and AA Rano outlets were selling petrol for between N1,275 and N1,299 per litre.

As a result, motorists across Abuja and its surrounding areas are currently paying between N1,230 and N1,299 per litre, depending on the filling station and location.

The variation in pump prices highlights the changing conditions in Nigeria’s downstream oil sector, where fuel suppliers and retailers continue to respond to shifts in supply, demand and crude oil prices.

Crude Oil Prices Fall:

Meanwhile, PhilipsNews reports that the latest petrol price adjustment also comes against the backdrop of a decline in global crude oil prices. At the time of the report, Brent crude was trading at around $88.80 per barrel, while West Texas Intermediate (WTI) stood at approximately $81.86 per barrel.

With domestic refineries increasing their role in the local petroleum market and international crude prices fluctuating, Nigerian motorists are closely watching pump prices for any further changes.