Fuel prices surged across parts of the country on Wednesday as filling stations adjusted pump prices upward following a fresh increase in depot rates by Dangote Refinery.
Findings by Daily Post showed that major marketers, including MRS and BOVAS, raised petrol prices to between ₦1,365 and ₦1,370 per litre in Abuja, up from the previous range of ₦1,292 to ₦1,295.
The adjustment represents an increase of about ₦75 to ₦78 per litre, signalling a fresh burden for consumers already grappling with rising living costs.
The hike followed Dangote Refinery’s decision to increase its gantry price of petrol by ₦75 per litre, pushing it from ₦1,200 amid a spike in global crude oil prices.
Industry sources attributed the surge in crude prices to recent developments in the international oil market, including the reported exit of the United Arab Emirates from the Organisation of the Petroleum Exporting Countries, which has heightened supply concerns.
Nigeria, being heavily dependent on global oil price movements, has continued to feel the impact of volatility in the international market, worsened by tensions in the Middle East.
Checks indicated that petrol prices have maintained an upward trajectory in recent months, climbing from about ₦800 per litre earlier in the year to nearly ₦1,400 per litre in some locations.
Marketers said the latest adjustment was inevitable given the rising cost of crude and supply dynamics, raising concerns over further increases if global oil prices remain elevated.
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