Motorists in the Federal Capital Territory have expressed concern over the rising cost of Premium Motor Spirit, popularly known as petrol, as pump prices climbed to as high as N1,350 per litre in some parts of Abuja.
The development followed a series of upward adjustments in the ex-depot price of petrol by Dangote Refinery, which reportedly increased its gantry price from N1,165 per litre to N1,185, before further adjustments to N1,200 and N1,265 within one week.
The latest increases came amid a rise in global crude oil prices, with Brent crude trading at about $90.35 per barrel on Monday, while West Texas Intermediate stood at approximately $85.35 per barrel.
Checks by the News Agency of Nigeria showed that several filling stations across the FCT had reviewed their pump prices upwards.
Eterna sold petrol at N1,320 per litre, while Gegu Oil and Salbas Oil sold at N1,310 and N1,330 respectively. Nipco and AY Shafa sold the product at N1,350 per litre, while TotalEnergies sold at N1,280 per litre.
The price increases have placed additional pressure on motorists and households already struggling with higher living costs.
A motorist in Gwarinpa, Olusegun Abbas, said he purchased petrol at N1,320 per litre, while another motorist in Dutse, Adewale Salau, bought the product at Gegu filling station for N1,310 per litre.
Salau said the rising cost of petrol was affecting not only transportation but also household finances and access to basic necessities.
“I can not feed my children three times a day because of the high cost of things in the market. Traders complain that it is because of the increase in fuel prices.
“We urge the Federal Government to urgently intervene by stabilising fuel prices,” he said.
Another motorist in Kubwa, Stanley Okezie, said he purchased petrol at N1,350 per litre and warned that the development would further push up food prices.
According to him, traders would likely pass increased transportation costs on to consumers while also trying to maintain their profit margins.
Okezie therefore urged the Federal Government to take measures to stabilise petrol prices and reduce the financial pressure on Nigerians.
A development expert, Dr Aliyu Ilias, also expressed concern over the latest increase, describing its potential economic impact as significant.
He called for urgent government intervention and a sustainable solution that would make petrol more affordable for Nigerians.
Meanwhile, the National Publicity Secretary of the Independent Petroleum Marketers Association of Nigeria, Chinedu Ukadike, attributed the latest price increase to repeated adjustments by Dangote Refinery.
Ukadike said the refinery had raised its gantry price from N1,165 per litre to N1,185, followed by further increases to N1,200 and N1,265 within the space of one week.
He explained that marketers could not continue selling petrol below their replacement cost, adding that the frequent adjustments had created uncertainty for both consumers and petroleum retailers.