The Nigerian National Petroleum Company Limited (NNPCL) and other oil marketers have increased the pump price of Premium Motor Spirit, popularly known as petrol.
Investigations on Tuesday showed that NNPCL outlets in Abuja and nearby areas adjusted their petrol price from N1,155 per litre to N1,270 per litre.
The latest adjustment represents an increase of N115 per litre by the state-owned oil company.
Some NNPCL and MRS filling stations in Abuja were reportedly shut, while other outlets reviewed their petrol prices upward on Monday.
The new price change follows recent increases by depot owners and petroleum marketers, who have adjusted their rates twice within a week.
Observers attribute the increase to the crisis going on in the Middle East between Iran and the United States.
It was the resumption of hostilities and the repudiation of the peace agreement bet the two countries that again spike the price of crude in the international market.
This also prompted Dangote Refinery to announce the sale of its products in dollars.
This might have led ti the overall increase in the cost of the product.
