Fuel Price Update Today Aug 6: Will NNPC Increase Petrol Price This Week? + Black Market Dollar Rate
Nigerians are once again asking questions about the price of petrol as speculations continue about a possible increase by the Nigerian National Petroleum Company Limited, NNPC, this week. As of Thursday, August 6, 2026, the official pump price of petrol in most NNPC stations across Lagos, Abuja and other major cities remains between ₦680 and ₦720 per litre. However, independent marketers are selling between ₦750 and ₦800 per litre depending on location. The fear of another price hike comes amid fluctuations in global crude oil prices and the exchange rate of the naira to the dollar. Industry experts say if the naira continues to weaken against the dollar, marketers may be forced to adjust prices upward to cover landing costs. Meanwhile, the naira is still under pressure in the foreign exchange market. On the official CBN window today, 1 US Dollar exchanges for around ₦1,520. On the black market, popularly called the parallel market in Lagos, 1 Dollar is being sold for betwe...