The Nigerian National Petroleum Company Limited, NNPCL, has hiked petrol prices in Abuja, sparking fears of increased transportation costs in the Federal Capital Territory.
Cyber Reporters gathered that NNPCL stations have raised the retail price of petrol from N897 to N1,030 per litre, representing a 14.8% or N133 increase.
The price hike follows NNPCL’s termination of its exclusive purchase agreement with Dangote Refinery, allowing marketers to directly negotiate prices with the refinery.
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It was gathered that at the NNPCL mega station in Central Area, customers were caught off guard as the new price was not displayed on signboards or pump meters.
Instead, fuel attendants verbally informed customers of the price hike.
This marks the second price increase in one month, leaving residents and commuters bracing for inflated transportation costs.
