NNPCL Petrol Price Surge to N1,030 in Abuja: Impact on FCT Economy and Daily Commute

NNPCL Petrol Price Surge to N1,030 in Abuja: Impact on FCT Economy and Daily Commute

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The Nigerian National Petroleum Company Limited has increased the petrol price to N1,030 per litre in Abuja, marking its second rise in a month, sparking frustration and long queues at the stations. Independent marketers are selling at N926 per litre, with the hike expected to affect transportation costs. Consumers were not informed of the price rise, leading to confusion and anger.

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Oil Price Forecasts Slashed for Fifth Month as Demand Drops and OPEC Remains Unpredictable

Oil Price Forecasts Slashed for Fifth Month as Demand Drops and OPEC Remains Unpredictable

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In a fifth consecutive monthly reduction, analysts have lowered their 2024 oil price forecasts, pointing to weakened demand and the uncertain direction of OPEC's plans. Despite geopolitical challenges, Brent crude and U.S. crude prices are expected to face continued pressure, according to a recent survey of analysts and economists.

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