Petrol Price Rises to N955 Per Litre as Cooking Gas Soars to N3,000 Per Kg

The pump price of petrol has climbed from N905 to N955 per litre at Nigerian National Petroleum Company Limited (NNPC) and private retail outlets, marking the second increase within a week. The price surge comes alongside a sharp rise in cooking gas costs, adding more pressure on households.

Cooking gas prices have spiked from about N1,000 per kilogram two weeks ago to N3,000 this week. This means a 12.5kg cylinder that once sold for N12,500 now costs N37,500 in cities like Abuja and Lagos.

NNPC stations in Abuja—including Gwarimpa, Kubwa Expressway, and Wuse Zones 4 and 6—adjusted their petrol prices to N955 per litre on Monday. Other stations, including Ranoil, AA Rano, and Mobil, raised prices to between N920 and N930 per litre. Just last weekend, MRS stations were reportedly selling at N851 per litre.

PPROOAN President Billy Gillis-Harry confirmed the hike, while IPMAN spokesperson Chinedu Ukadike attributed the rise to supply and logistics challenges facing major marketers like NNPC and Dangote Refinery.

Ukadike said Dangote Refinery raised its loading price from N825 to N845 per litre, pushing retail prices to between N900 and N955 depending on location. He also revealed that supply from Dangote and NNPCL is limited, with many IPMAN members waiting weeks to load their paid-for products.

He explained that scarcity drives up prices, noting that some marketers who paid for three million litres received only one million litres due to rationing.