BREAKING: NNPCL, Other Nigerian Filling Stations Increase Fuel Prices Twice in 24 Hours
Motorists across Nigeria were met with fresh price shocks on Tuesday as NNPCL retail outlets and several independent filling stations adjusted petrol prices upward for the second time within 24 hours, deepening concerns over the rising cost of living and transportation.
According to Daily Post, the latest hike was observed in major cities including Abuja, Lagos, Ibadan, Port Harcourt, and Benin, where pump prices were altered on station boards and digital displays, with varying rates depending on location and operator.
Price Changes Across Cities
In Abuja and parts of Lagos, motorists reported that NNPCL stations raised pump prices by several naira per litre, while some private marketers implemented even steeper adjustments. The disparities reflected differences in supply logistics, depot pricing, and transportation costs across regions.
NNPCL, Marketers React
While the Nigerian National Petroleum Company Limited (NNPCL) had yet to issue a formal statement at the time of filing this report, industry sources cited fluctuating depot prices and exchange rate pressures as key factors driving the rapid adjustments.
Independent marketers said they were compelled to review prices in order to cover landing and distribution costs, warning that continued volatility in supply could trigger further changes.
Public Outcry
Commuters and commercial transport operators expressed frustration, saying the back-to-back increases have forced many to raise fares and cut back on daily travel.
“This is happening too fast. We just adjusted our transport fares yesterday, and now fuel has gone up again,” a commercial driver in Ikeja said.
Economic Implications
Economists warn that frequent fuel price hikes could accelerate inflation, particularly affecting food prices and the cost of goods transported by road. Small businesses that rely on generators are also expected to feel the impact through higher operating costs.
Calls for Clarity
Civil society groups and labour unions called on the Federal Government and NNPCL to provide clearer communication on pricing mechanisms and measures to stabilise supply, especially in the wake of ongoing reforms in the downstream petroleum sector.
What Next
Analysts say fuel prices are likely to remain volatile in the short term, with market forces, global oil trends, and foreign exchange conditions continuing to shape pump rates nationwide.
Source: Daily Post