Petrol prices have surged again, rising to N955 per litre at NNPC and private stations.
The fresh hike, the second in a week, adds to Nigerians’ growing economic hardship.
The pump price of Premium Motor Spirit (petrol) has climbed from N905 to N955 per litre at filling stations owned by the Nigerian National Petroleum Company Limited (NNPC) and private marketers, marking the second increase within a week.
The latest adjustment comes as Nigerians grapple with another steep rise in the cost of Liquefied Petroleum Gas (LPG), popularly known as cooking gas, deepening the financial strain on households.
Over the past two weeks, the average price of cooking gas has surged from about N1,000 per kilogram to as high as N3,000. A 12.5kg cylinder that previously sold for roughly N12,500 now costs between N35,000 and N37,500 in cities such as Abuja and Lagos.
In the Federal Capital Territory, NNPC retail outlets adjusted their prices to N955 per litre on Monday, with new rates observed at stations in Gwarimpa, Kubwa Expressway, and Wuse Zones 4 and 6.
The National President of the Petroleum Products Retail Outlets Owners Association of Nigeria (PPROOAN), Billy Gillis-Harry, confirmed the increase, while other marketers, including Ranoil, AA Rano, and Mobil, were selling petrol between N920 and N930 per litre. Just days earlier, some MRS stations reportedly dispensed fuel at N851 per litre.
Chinedu Ukadike, Public Relations Officer of the Independent Petroleum Marketers Association of Nigeria (IPMAN), explained that the rise was driven by supply and distribution constraints affecting both the NNPC and the Dangote Refinery.
According to him, Dangote Refinery raised its ex-depot price from N825 to N845 per litre, which in turn pushed retail prices to between N900 and N955, depending on location. He said the refinery’s limited output could not meet the high demand from marketers, while NNPC’s supply was largely restricted to its own retail network.
Ukadike added that several IPMAN members who had paid for supplies from Dangote were still waiting to load their allocations after more than two weeks. He said marketers who received reduced volumes were forced to raise prices to recover costs amid tight product rationing.
He cautioned that until product availability improves, retail prices may remain unstable, further worsening the burden on consumers already battling inflation and rising living costs.
