Petrol prices have risen sharply at several filling stations across Nigeria following a decision by Dangote Petroleum Refinery & Petrochemicals to increase the ex-gantry price of Premium Motor Spirit (PMS), commonly known as petrol. Less than 24 hours after the refinery’s adjustment, its major retail partner and the national oil company also raised their pump prices.
A survey conducted on Tuesday morning in Abuja showed that MRS Oil Nigeria Plc and NNPC Limited have increased their petrol pump prices from about ₦875 per litre to ₦975 per litre ,a ₦100 per litre increment.
Other independent stations also adjusted prices upward, though by slightly different amounts. For example, operators like AYM Shafa and AA Rano moved their rates from around ₦880 to about ₦960 per litre.
Industry sources say the adjustments stem from a price review at the refinery level. Dangote Petroleum raised its ex-depot price from ₦774 to ₦874 per litre, citing recent volatility in global crude oil markets and higher replacement costs as key factors behind the move.
The latest increase is likely to affect fuel costs nationwide, potentially driving transportation and commodity prices higher in the coming weeks. Observers note that Nigeria’s deregulated fuel pricing system allows dealers to adjust their pump rates in response to market forces, although such rapid price jumps often reignite public concern over affordability.
As petrol prices continue to fluctuate, consumers and stakeholders are watching closely to see whether this marks a sustained rise or a temporary adjustment tied to international crude price dynamics.
