By Juliet Ezeh, Westbridge
Petrol prices in Abuja have climbed above the N1,100 mark at several filling stations following fresh adjustments by the Nigerian National Petroleum Company Limited and independent marketers, deepening concerns over rising transportation and living costs for residents.
Checks across parts of the Federal Capital Territory on Sunday showed that retail outlets operated by Nigerian National Petroleum Company Limited increased the pump price of Premium Motor Spirit to about N1,082 per litre from the earlier N967 per litre.
The development represents the second price adjustment within 24 hours and comes amid a broader increase in petrol prices across the country’s downstream market.
Visits to some NNPCL stations along Kubwa Expressway, Gwarimpa, Wuse Zone 6, Zone 4 and Lifecamp indicated that the new price had already been implemented, with motorists seen queuing to purchase the product despite the higher cost.
Other marketers also revised their pump prices upward in response to the market changes. Filling stations operated by MRS Oil Nigeria Plc, AA Rano Nigeria Limited and Empire Energy were selling petrol between N1,092 and N1,150 per litre, compared to the previous range of about N960 to N980.
Industry stakeholders say the upward review followed an increase in the gantry price of petrol by Dangote Refinery, which recently raised its loading price from N874 to N995 per litre.
The National President of the Petroleum Products Retail Outlets Owners Association of Nigeria, Billy Gillis-Harry, attributed the latest adjustments to volatility in global crude oil prices.
According to him, tensions in the Middle East, particularly the ongoing Iran–United States–Israel conflict affecting the Gulf region, have pushed crude oil prices above $90 per barrel, impacting the cost of refined petroleum products.
He urged regulators in Nigeria’s oil sector to step in with measures that could stabilise petrol prices and reduce the frequency of sudden price changes that affect both marketers and consumers.
The recent adjustments have pushed the cumulative increase in NNPCL pump prices to over N200 per litre within a week, raising concerns about the ripple effects on transport fares, food prices and overall inflation.
Energy analysts say that with crude oil prices remaining volatile in the international market, domestic petrol prices may continue to fluctuate in the coming weeks unless stabilising interventions are introduced by regulators.
Juliet Ezeh is the founder and chief reporter at Westbridge Reporters with over 7 years of experience in journalism. She covers crime, industry, policy, and social developments, delivering timely and accurate reporting.