The Nigerian National Petroleum Company Limited (NNPCL) adjusted its retail pump price to N998 per litre in Lagos and N1,030 in Abuja.
It was N855 per litre in Lagos and N916 in Abuja in the September template.
The oil giant, it was learnt, bought the product at N977 per litre from Dangote Refinery and added N21 for costs and taxes.
NNPCL is not bearing any shortfall, unlike last month when it announced that Dangote Refinery sold to it at N898 per litre.
Dangote Refinery, which disputed the claim, did not state the amount it sold the product.
“The new price announced yesterday is based on the N977/litre we are buying from Dangote,” an NNPCL source said.
“What we announced is based on Dangote pricing. It is N977 per litre that NNPCL buys from the refinery.
“When the pump price is reduced by the refinery, NNPCL will reduce it.”
