Motorists in Abuja are paying more for petrol as several filling stations in the Federal Capital Territory have raised their pump prices following an increase in the wholesale cost of the product.
The latest adjustments came after Dangote Petroleum Refinery raised its gantry price by ₦85, bringing it to ₦1,350 per litre.
Checks in Abuja on Sunday showed varying new pump prices across major retail outlets. MRS stations were selling petrol at ₦1,395 per litre, up from ₦1,350, while NIPCO had moved its price to ₦1,430.
Mobil outlets were also dispensing the product at ₦1,400 per litre.
An attendant at an MRS station, who requested anonymity, indicated that motorists could see another increase as soon as new supplies arrive.
“We are currently selling our old stock at N1,395 per litre, but from tomorrow, once the new stock arrives, the price will be higher,” she said.
The increase in the refinery’s wholesale price represents a 6.7 per cent rise and puts it above the reported current petrol landing cost of ₦1,311 per litre.
The latest development comes amid a sharp rise in international crude oil prices. Brent crude, the benchmark for Nigeria’s oil industry, was trading above $108 per barrel.
Economist and development expert Aliyu Ilias warned that further increases in petrol prices could place additional pressure on households and businesses.
He said the effect would likely extend beyond filling stations, with higher fuel costs feeding into transportation, production and the prices of essential goods, particularly food.
Ilias urged authorities to find ways of cushioning the impact, warning that allowing the additional costs to filter through could contribute to higher inflation.
With some Abuja stations already selling above ₦1,400 per litre, motorists and consumers may face further financial pressure if the upward movement in wholesale and retail prices continues.
