The Federal Capital Territory has witnessed a significant surge in transportation costs following the recent hike in petrol prices by the Nigerian National Petroleum Company Limited (NNPCL) in Abuja.
The national oil company’s retail price for petrol has increased from N897 to N1,030 per litre, representing a 14.8% or N133 rise.
This development has left many residents frustrated, including a customer at the NNPCL mega station in Central Area, who expressed disappointment after discovering the new price. “I am very angry right now. I entered this station thinking their price would be better. It was only after I had wasted time in the queue that I was informed by the fuel attendant that the price had risen to N1,030.”
The price increase has also led to confusion among customers, as the stations did not display the new prices on their signboards or pump meters. Instead, fuel attendants verbally communicated the prices to customers.
*Fuel Prices at Independent Marketers*
– Conoil: N926 per litre
– Total Energies: N926 per litre
Long queues characterized the independent marketers’ stations, including Conoil and Total Energies, opposite the NNPCL headquarters.
The recent price hike is the second in one month, sparking concerns among residents about the rising cost of living in the Federal Capital Territory. The NNPCL’s decision has also raised questions about the company’s pricing strategy and its impact on the local economy.
