Many filling stations across the Federal Capital Territory have raised the pump price of Premium Motor Spirit, popularly known as petrol.
The increase comes despite a drop in global crude oil prices, which declined from $92 per barrel to $87.31 per barrel.
Brent crude traded at $88.10 per barrel after falling by 0.47 per cent, while West Texas Intermediate slipped 0.16 per cent to $83.40 per barrel.
According to the News Agency of Nigeria, Dangote Refinery raised its gantry, also known as ex-depot, price several times within the past week, moving from N1,165 per litre to N1,185, then N1,200, and eventually N1,265.
The most recent adjustment represents an increase of N65 per litre from the previous N1,200 gantry price.
This latest increase has since been reflected at filling stations across the FCT.
A survey conducted by NAN on Sunday in Abuja showed that several petrol outlets had reviewed their prices upward, forcing motorists to pay more for fuel.
AY Shafa, for instance, increased its pump price from N1,250 to N1,270 per litre, while Optima raised its price from N1,260 to N1,300 per litre.
Similarly, NNPC adjusted its petrol price from N1,250 to N1,270 per litre.
An economist, Samson Ogunjimi, raised concerns over the increasing strain high fuel prices are placing on Nigerians and their livelihoods.
He said the situation was unbearable, with many people struggling to cope with the ripple effects on their livelihoods.
Ogunjimi urged the Federal Government to take urgent steps to stabilise petrol prices and reduce the economic hardship facing Nigerians.
Meanwhile, the National Publicity Secretary of the Independent Petroleum Marketers Association of Nigeria, Chinedu Ukadike, explained that marketers adjusted their pump prices following multiple price reviews by Dangote Refinery.
Ukadike said marketers could not continue to sell petrol below the replacement cost.
He noted that the frequent adjustments were creating uncertainty for both marketers and consumers, as the cost of replacing products could change significantly within a short period.
