The price of Premium Motor Spirit (PMS), popularly known as petrol, has risen to as high as N1,350 per litre in parts of the Federal Capital Territory following successive increases in the gantry price by Dangote Refinery within the last one week.
Checks across filling stations in Abuja on Monday showed that many petrol stations had adjusted their pump prices upward.
At Eterna filling station, petrol was sold at N1,320 per litre, while Gegu Oil sold the product at N1,310 per litre. Salbas Oil dispensed petrol at N1,330 per litre, while Nipco and AY Shafa sold at N1,350 per litre. TotalEnergies sold the product at N1,280 per litre.
The latest increase followed adjustments by Dangote Refinery, which raised its gantry price from N1,165 per litre to N1,185 per litre, and later increased it further to N1,200 per litre and N1,265 per litre within one week.
The development has triggered concerns among motorists, who said the rising cost of petrol was adding pressure to household expenses and worsening the cost of living.
A motorist in Gwarinpa, Mr Olusegun Abbas, said he purchased petrol at N1,320 per litre, while another motorist in Dutse, Mr Adewale Salau, said he bought the product at Gegu filling station at N1,310 per litre.
Salau described the situation as difficult for many Nigerians, saying the increase in fuel prices was affecting the cost of goods and services.
“I cannot feed my children three times a day because of the high cost of things in the market. Traders complain that it is because of the increase in fuel prices.
“We urge the Federal Government to urgently intervene by stabilising fuel prices,” he said.
Another motorist in Kubwa, Stanley Okezie, who bought petrol at N1,350 per litre, warned that the continued rise in fuel prices would further increase food costs as transporters and traders would pass the additional expenses to consumers.
He called on the Federal Government to take urgent steps to stabilise petrol prices and reduce the economic burden on Nigerians.
Dr Aliyu Ilias, a development expert, also expressed concern over the impact of the price increase, urging authorities to find lasting solutions that would make petrol more affordable.
The National Publicity Secretary of the Independent Petroleum Marketers Association of Nigeria, Mr Chinedu Ukadike, attributed the latest increase to repeated adjustments in the refinery’s gantry price.
Ukadike said marketers could not continue selling petrol below the replacement cost, adding that frequent price changes were creating uncertainty for both operators and consumers.
He noted that the recent adjustments by Dangote Refinery had forced marketers to review their pump prices in line with prevailing market conditions.
