Petrol prices in Abuja have stayed high for a second straight week, with filling stations selling Premium Motor Spirit (PMS) at about ₦1,364 to ₦1,372 per litre.
On Monday, checks revealed that NIPCO was selling petrol at ₦1,372 per litre, an increase of ₦77 per litre—roughly six per cent—compared to the previous week’s average of ₦1,295 per litre.
Other outlets such as AYM Shafa, MRS, and AA Rano offered fuel at ₦1,370 per litre, while NNPC Retail priced it slightly lower at ₦1,364 per litre.
The increase in pump prices has been attributed to a surge in global crude oil prices, which rose to around $126 per barrel due to rising geopolitical tensions in the Middle East.
This has been linked to strained diplomatic relations between the United States and Iran, fueling worries about possible disruptions in global oil supply.
Attention has also been drawn to the Strait of Hormuz, a major route for global crude shipments, where any interruption is expected to heighten fears of shortages and continued price increases.
Domestically, the trend has been reinforced by adjustments from the Dangote Refinery, which recently raised its gantry price of petrol from ₦1,200 to ₦1,275 per litre, adding further pressure on retail pump prices across the country.
