NNPC increases petrol price as MRS and Ardova adjust pumps
The Nigerian National Petroleum Company Limited has increased the price of petrol once again, prompting marketers such as MRS Oil, Ardova Plc, and other distributors to adjust their pump prices across the country. The latest revision follows a pattern of fluctuations in the fuel sector as global oil prices and local supply arrangements continue to influence retail costs.
According to industry sources, the new price adjustment will affect both private motorists and commercial transport operators, who are likely to experience an increase in daily operational costs. Analysts say that such changes are often linked to the cost of importing petroleum products and the pricing formula used by the NNPC to balance local demand and supply pressures.
The NNPC has maintained that the adjustments are necessary to reflect current market realities and ensure the sustainability of fuel distribution in Nigeria. Marketers have confirmed that they have already revised pump prices in line with the company’s new directives, with variations observed across different states depending on distribution logistics and transport costs.
Consumers have expressed concern over the repeated fuel price hikes, noting that it adds to the overall cost of living and transportation expenses. Economic experts argue that while the increases may be unavoidable due to global market trends, there is an urgent need for consistent government policies and strategic interventions to stabilize petrol prices for Nigerians.
The latest fuel price revision comes amid ongoing discussions on boosting local refining capacity and reducing reliance on imported petrol. Observers believe that increased investment in domestic refineries could eventually help moderate pump prices and ensure more predictable fuel supply across the country.
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