The pump price of petrol has risen to N1,400 per litre at some filling stations in Abuja following the decision by the Dangote Refinery to begin selling Premium Motor Spirit (PMS) to marketers in U.S. dollars instead of naira.
The development comes amid ongoing challenges in crude oil supply and changes to the refinery’s pricing policy.
Industry experts say the shift to dollar-denominated sales could lead to more frequent changes in petrol prices, as pump prices may increasingly reflect fluctuations in the naira’s exchange rate against the U.S. dollar.
The latest increase is expected to place additional financial pressure on consumers and businesses already grappling with rising transportation and living costs.
