The Nigerian National Petroleum Company Limited (NNPCL) has raised petrol prices to ₦960 per litre in Lagos and ₦990 in Abuja.
The Dangote Petroleum Refinery recently increased its ex-depot pricing from ₦899 to ₦955 per litre, which is the reason for this modification.
The increase in global crude oil prices, which saw Brent crude hit $81 per barrel, is the cause of the spike in petrol prices.
According to oil marketers, local production costs are being impacted by these global price increases, which could result in additional pump price increases.
