- Petrol price increases to N1,020-N1,050 per liter.
- Second price hike within three weeks.
- Previous prices: N885-N897 per liter (Lagos-Abuja).
- New prices: N1,020 (Lagos), N1,050 (Abuja).
- Dangote Refinery’s impact on fuel prices uncertain.
- Diesel price: N1,379 per liter.
- Fuel prices subject to change due to global market conditions.
The pump price of petrol has taken another jump, now selling at N1,025 per liter in Lagos and N1,060 per liter in Abuja, according to the Nigerian National Petroleum Company Limited (NNPC) . This marks the second price hike within three weeks. To put this into perspective, on October 9, 2024, petrol prices were increased from N897 to N1,030 in Abuja and from N885 to N998 in Lagos .
It’s worth noting that the Dangote Refinery, which commenced operations in September 2024, is expected to enhance local production and reduce reliance on imports . However, the impact of the refinery on fuel prices remains uncertain due to global market conditions and production costs.
If you’re looking for the latest fuel prices, here are the current rates:
- Gasoline/Petrol Price: N1,025 per liter in Lagos and N1,060 per liter in Abuja
- Diesel Price: N1,379 per liter
