Petrol Prices Remain High in Nigeria Despite Refinery Adjustments

Petrol prices across Nigeria have remained high, with many filling stations selling Premium Motor Spirit (PMS) for as much as ₦1,300 per litre in some parts of the country. The increase followed recent adjustments in the ex-depot price by the Dangote Refinery and fluctuations in the global oil market. 

Industry sources explained that the refinery recently raised its gantry price to about ₦1,175 per litre, forcing marketers to increase pump prices after adding transportation and operational costs. As a result, petrol prices now vary widely across states, with some locations selling between ₦1,050 and ₦1,300 per litre. 

Economists warn that the sharp rise in fuel prices could trigger another wave of inflation, increasing the cost of transportation, food, and other essential goods. Businesses and households are already bracing for higher expenses as fuel remains a major driver of Nigeria’s economy


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