Motorists in the Federal Capital Territory (FCT) have expressed concern over the rising pump price of Premium Motor Spirit (PMS), popularly known as petrol, amid fresh increases in the product’s cost.
Global oil prices also rose on Monday, with Brent crude trading at about $90.35 per barrel, while West Texas Intermediate (WTI) stood at about $85.35 per barrel.
The News Agency of Nigeria (NAN) reports that Dangote Refinery increased its gantry, or ex-depot, price from N1,165 per litre to N1,185, before raising it further to N1,200 and N1,265 per litre within the past week.
Research on Monday showed that several filling stations across the FCT had raised their pump prices.
Eterna filling station sold petrol at N1,320 per litre, Gegu Oil at N1,310, while Salbas Oil sold at N1,330 per litre.
Other outlets, including Nipco and AY Shafa, sold the product at N1,350 per litre, while TotalEnergies sold at N1,280 per litre.
The latest increases have placed additional financial pressure on motorists and households already grappling with rising living costs.
A motorist in Gwarinpa, Olusegun Abbas, said he purchased petrol at N1,320 per litre, lamenting the impact of rising fuel prices on household finances.
Another motorist in Dutse, Adewale Salau, said he bought petrol at Gegu filling station at N1,310 per litre.
Salau said the rising cost of petrol was affecting not only transportation but also other aspects of daily life.
He described the situation as unbearable, saying many families were struggling to cope with the ripple effects of higher fuel prices.
“I cannot 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.
Similarly, a motorist in Kubwa, Stanley Okezie, said petrol was selling for N1,350 per litre in his area.
Okezie warned that the increase would further push up food prices, as traders would seek to recover higher transportation costs and maintain their profit margins.
He also called on the Federal Government to intervene and stabilise fuel prices to reduce the economic burden on Nigerians.
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A development expert, Dr Aliyu Ilias, expressed concern over the latest increase, describing its potential economic consequences as severe.
Ilias urged the Federal Government to act swiftly to address the rising cost of petrol and to find a lasting solution to make the product more affordable for Nigerians.
Meanwhile, the National Publicity Secretary of the Independent Petroleum Marketers Association of Nigeria (IPMAN), Chinedu Ukadike, attributed the latest increase to successive price adjustments by the refinery.
Ukadike said Dangote Refinery had increased its gantry price from N1,165 per litre to N1,185, and subsequently to N1,200 and N1,265 within the past week.
He said marketers could not continue to sell petrol below the replacement cost, noting that frequent price changes were creating uncertainty for both marketers and consumers.
