Fuel Price Hike Sparks Concerns Among Consumers
The Nigerian National Petroleum Company Limited (NNPCL) has increased petrol prices to N915 per litre in Abuja and N945 per litre in Lagos. This sudden hike has left many Nigerians worried about the impact on their daily expenses and the overall economy.
The price adjustment is believed to be a result of the recent move by the Dangote Refinery, which increased its ex-depot price of petrol. Other fuel stations have also adjusted their prices accordingly, with some setting their prices between N925 and N945 per litre.
Many consumers are concerned about the implications of this price hike, particularly with regards to transportation costs. The increase is expected to have a ripple effect on the economy, leading to higher prices for goods and services.
The NNPC Limited has not officially commented on the reasons behind the price adjustment. However, experts attribute it to global oil price fluctuations and market dynamics.
The price hike has sparked widespread concern among Nigerians, who are already struggling with the high cost of living. It remains to be seen how this development will affect the economy in the long run.