NEWS
Nigerian Fuel Price Update August 6
Fuel Price in Nigeria: August 6 Update, Reasons for Increase & What to Expect Next Week
How Much is 1 Liter of Fuel in Nigeria Today?
₦680 and ₦720 per litre, depending on the location and station brand.In Lagos and Abuja, major filling stations such as NNPC Retail, TotalEnergies, and MRS sell fuel
at around ₦685–₦700/litre, while in states like Kano, Borno, and Bayelsa, prices may go as high as ₦720/litre.
Why Is There an Increase in Fuel Prices?
The surge in fuel prices in Nigeria is driven by several local and global economic factors:
- Subsidy Removal: The Nigerian government completely removed fuel subsidies in 2023, allowing market forces to dictate prices.
- Exchange Rate Volatility: The floating of the naira has made fuel imports more expensive due to FX scarcity and a weaker currency.
- Rising Global Crude Prices: International Brent crude prices have recently surged above $90 per barrel, influencing domestic PMS prices.
- Logistics and Distribution Costs: Increased cost of diesel, poor road infrastructure, and security issues have impacted fuel distribution.
The lack of local refining capacity also means Nigeria still imports most of its fuel, making the market sensitive to international price shocks.
Did NNPC, MRS, and TotalEnergies Increase the Petrol Price?
Yes, major marketers such as NNPC Retail, MRS Oil Nigeria Plc, and TotalEnergies adjusted their pump prices upward
in line with market realities and global trends.
These companies did not act independently. As Nigeria operates a deregulated market, prices are influenced by landing cost, exchange rates, and freight charges.
NNPC, being both a supplier and retailer, has consistently reviewed its pricing template to reflect these market dynamics.
The price adjustments are reviewed weekly or monthly depending on economic variables, particularly the exchange rate and cost of crude.
Who Increased the Fuel Price in Nigeria?
Fuel price increments in Nigeria are not directly enforced by the federal government under the deregulated system. However, the price adjustments are influenced by:
- Market Forces: Importers and oil marketers determine pump prices based on importation costs and logistics.
- NNPC Limited: As the country’s largest supplier of refined petroleum products, NNPC adjusts its wholesale prices, which trickles down to retail prices.
- Oil Marketers: Independent and major marketers like MRS, TotalEnergies, and Ardova set their own prices based on regional logistics and supply availability.
While the government no longer fixes fuel prices, it monitors the situation through the Nigerian Midstream and Downstream da
Fuel Price in Nigeria – August 6, 2025 Snapshot
| City/State | Average Pump Price (₦) | Major Stations |
|---|---|---|
| Lagos | ₦685 | NNPC, MRS, TotalEnergies |
| Abuja | ₦690 | TotalEnergies, Conoil, NNPC |
| Port Harcourt | ₦700 | Oando, Mobil, NNPC |
| Kano | ₦720 | Independent Marketers |
Fuel Price Next Week – What to Expect?
Looking ahead, industry analysts predict that fuel prices may remain stable or slightly increase in the week of August 12–18, 2025 due to:
- Continued depreciation of the naira against the dollar
- Rising global oil prices amid Middle East tensions
- Logistical costs during the rainy season
Unless there’s a major government intervention or sudden drop in global crude prices, a litre of petrol may hover between ₦690 and ₦730 next week.
However, price changes may vary by region and station.
Final Thoughts
As Nigeria continues its path in a deregulated fuel market, fluctuations in pump prices are inevitable. Citizens are encouraged to stay informed, compare station prices,
and make fuel purchases from reliable marketers to ensure quality and quantity.
For the latest fuel updates, rely on verified sources like NNPC Retail, NMDPRA, and trusted news platforms. Bookmark this page for weekly petrol price updates across Nigeria.