### NNPC's Recent Petrol Price Hikes: A Growing Concern for Nigerians The Nigerian National Petroleum Company Limited (NNPC) has recently implemented a series of petrol price increases, raising the cost from N915 to N925 per litre in Lagos just two days after the initial hike. This adjustment reflects a broader trend of rising fuel prices across Nigeria, driven by fluctuations in global crude oil prices and operational costs from local refineries. The situation has sparked concerns among consumers and stakeholders about the sustainability of these price increases and their impact on the economy. ### Breakdown of Recent Price Changes and Market Reactions 1. **Initial Price Increase**: On June 23, 2025, NNPC raised petrol prices to N915 per litre in Lagos and N945 in Abuja, marking a significant increase due to rising crude oil prices in the international market [https://nairametrics.com/2025/06/23/fuel-price-hike-nnpc-increases-petrol-to-n915-as-global-crude-surge-bites]. 2. **Subsequent Adjustments**: Just two days later, on June 26, 2025, NNPC further increased the price in Lagos to N925 per litre, indicating a rapid escalation in fuel costs [https://www.legit.ng/business-economy/energy/1661507-again-nnpc-hikes-petrol-prices-n915-litre-list-shows]. 3. **Market Reactions**: Fuel marketers across Nigeria have adjusted their prices, with increases ranging from N45 to N60 depending on the location, as they cite reasons related to crude oil price spikes and operational costs [https://www.legit.ng/business-economy/energy/1661377-petrol-marketers-offer-reasons-hike-filling-stations-increase-fuel-price-by-n50]. 4. **Depot Price Increases**: The price adjustments have also been reflected at the depot level, where oil marketers and depot owners have raised prices following cost adjustments by the Dangote Refinery and NNPC [https://www.legit.ng/business-economy/energy/1661161-marketers-increase-petrol-depot-prices-nnpc-releases-price-list-nationwide]. ### Supporting Data on Petrol Price Trends - **Price Changes**: - June 23, 2025: NNPC sets prices at N915 in Lagos and N945 in Abuja [https://www.informationng.com/2025/06/nnpcl-raises-petrol-pump-price-to-n945-in-abuja-n915-for-lagos-customers.html]. - June 26, 2025: Price in Lagos increases to N925 [https://www.legit.ng/business-economy/energy/1661507-again-nnpc-hikes-petrol-prices-n915-litre-list-shows]. - **Market Adjustments**: - Fuel prices at filling stations have been adjusted by N45 to N60 across various locations [https://www.legit.ng/business-economy/energy/1661377-petrol-marketers-offer-reasons-hike-filling-stations-increase-fuel-price-by-n50]. - Depot prices surged following a N55 increase by Dangote Refinery [https://www.legit.ng/business-economy/energy/1660823-petroleum-product-depot-prices-surge-nationwide-dangote-increases-petrol-prices-by-n55-litre]. ### Conclusion: Implications of Rising Petrol Prices The recent hikes in petrol prices by NNPC and other marketers highlight a troubling trend for consumers and the economy at large. 1. **Immediate Impact**: The price increases are likely to strain household budgets and contribute to inflationary pressures across various sectors. 2. **Market Dynamics**: The adjustments reflect the volatile nature of global oil markets and the challenges faced by local refineries in maintaining stable pricing. 3. **Future Outlook**: Continued monitoring of crude oil prices and local market conditions will be essential for understanding the sustainability of these price hikes and their broader economic implications. In summary, **the ongoing increases in petrol prices are a significant concern for Nigerians, necessitating careful consideration of both market dynamics and consumer impacts**. The situation calls for strategic responses from policymakers to mitigate adverse effects on the economy and consumers alike.