The Nigerian National Petroleum Company Limited (NNPCL) has raised its petrol pump price again, setting a new retail rate of ₦895 per litre. The Dealer-Owned Dealer-Operated (DODO) price now stands at ₦874.
The latest adjustment, communicated to dealers on August 8, comes just days after a brief rollback to ₦875 per litre. That earlier cut had followed a dip in international crude prices, which now appears to have reversed.
In a circular addressed to marketers, NNPCL stated:
“Dear Esteem Dealers, PMS pump price has been reviewed upward to ₦895/litre effective today, 8/8/2025. DODO price is now ₦874/litre. Thank you.”
Petroleumprice.ng, citing this dealer communication, reported that the new pricing takes effect immediately.
Market-Driven Changes Stir Consumer Uncertainty
This is NNPCL’s third petrol price change within one week, highlighting deep volatility in the deregulated downstream sector. Prior increases were linked to a surge in depot prices and logistics costs, including a ₦10,000 call-up fee on tankers entering Lagos depots.
While NNPCL has not formally explained the fresh hike, analysts point to recovering oil benchmarks and persistent domestic supply challenges.
Independent marketers have also adjusted their retail prices, citing cost pressures and the lack of a unified pricing ceiling. The frequent shifts have kept consumers on edge and complicated business planning for logistics-dependent sectors.
Stakeholders Seek Predictable Pricing Framework
Though deregulation allows for flexibility, repeated price swings continue to fuel public anxiety. Some stakeholders have renewed calls for a more transparent and predictable pricing model that cushions consumers from abrupt shifts.
Energy experts argue that without improvements in local refining, foreign exchange stability, and distribution efficiency, the sector will remain exposed to shocks.
For now, NNPCL’s latest upward review signals a continued push to reflect cost realities—leaving motorists and businesses to absorb yet another shift in pump prices.