The Nigerian National Petroleum Company Limited (NNPCL) has increased the price of petrol (PMS) from N998 to N1,025 per liter in Lagos and surrounding areas, as reported by Vanguard.
This marks the third price hike in 60 days, despite the global price of Nigeria’s Bonny Light crude oil dropping to $72 per barrel from $75 per barrel.
Motorists Rush to Fill Up as Prices Adjust. Lagos filling stations quickly adjusted prices to reflect the new rate, prompting motorists to rush to outlets that had not yet updated their prices.
