Petrol Price Hike: NNPCL sells at N1,070, Independent marketers dispense at N1,150 in Kano
On Wednesday, the NNPC Limited (NNPCL) unveiled a new price regime, selling petrol for N1,030 in Abuja and N998 in Lagos.
Similarly, the price of petrol has sharply increased in Kano, with NNPCL retail outlets selling petrol for as much as N1,070 per litre.
SolaceBase reports that independent petroleum marketers such as AA Rano are selling at N1,100 per litre, while Fara-Fara and IMG have set their prices at N1,150 per litre.
Recalls that NNPCL adjusted the price on September 3rd,2024 whereby at its retail outlets in Kano, petrol sells for N904.
Thereby with the present increment, NNPCL has increased petrol pump price in Kano by N166.
This hike follows the termination of NNPCL’s exclusive supply deal with Dangote Refinery.
The decision to raise prices was reportedly made after a joint review between NNPCL and independent petrol marketers.
The price increase has sparked concern among Kano residents, especially tricycle riders and private vehicle owners, who are now struggling with the high cost of fuel.
Farouk Bala, a tricycle rider, expressed frustration, describing the situation as devastating.
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“We actually need to come together and face the reality, as this hike is so unreasonable and ridiculous,” he said.
Another rider, Ibrahim Danjuma, was shocked by the increase, stating, “Had I known about the hike, I would have bought litres of petrol and stored them at home.”
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Tijjani Muhammad, also a tricycle rider, recounted his difficult experience. “I spent N9,000 on petrol today.
“If I spend this much on fuel, how much will I make in return? It means I also have to raise my fares,” he explained.
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