Nigeria’s fuel prices have increased for the second time in a week, with the Nigerian National Petroleum Company Limited (NNPCL) and other filling stations raising the cost of Premium Motor Spirit, also known as petrol. As of Monday, NNPCL retail outlets in Abuja adjusted their petrol price to ₦955 per litre, up from ₦905. This represents a ₦50, or 5.5%, increase.

The price hike was observed at NNPCL retail outlets in various locations across Abuja, including Gwarimpa, Kubwa Expressway, and Wuse Zones 4 and 6. The National President of the Petroleum Products Retail Outlets Owners Association of Nigeria, Billy Gillis-Harry, confirmed the increase in fuel price at NNPCL filling stations, although he did not provide a reason for the latest development.

Other filling stations in Abuja, such as Ranoil, AA Rano, and Mobil, have also increased their pump prices to between ₦920 and ₦930 per litre. Meanwhile, MRS filling stations were dispensing petrol at ₦851 per litre in parts of Abuja as of Saturday. However, retail outlets relying on the Dangote Refinery fuel distribution scheme have been without petrol since Sunday.

This is the second time in a week that NNPCL has increased the fuel price in Abuja. The company had previously raised the price to ₦905 per litre barely a week ago. The frequent price increases may have significant implications for consumers and the economy as a whole. The development is likely to be closely watched by stakeholders and industry experts, who may be awaiting further clarification on the reasons behind the price hikes. For now, motorists in Abuja and other parts of the country will have to contend with the new prices.