Petrol prices have increased across Nigeria, with retail outlets now selling Premium Motor Spirit (PMS) between N1,364 and N1,444 per litre. The development reflects continued pressure from rising global crude oil prices.
The increase was observed across major cities, affecting both independent and major marketers.
NNPCL, marketers adjust pump prices
The Nigerian National Petroleum Company Limited NNPCL and other major marketers, including MRS, BOVAS, AP (Ardova), and Mobil, have adjusted pump prices to between N1,364 and N1,370 per litre.
Other filling stations such as AA Rano, Emedab, Empire Energy, and Ranoil are selling petrol at higher rates ranging from N1,370 to N1,444 per litre.
Sharp rise compared to February prices
The current retail price represents a significant jump from around N900 per litre recorded in February 2026.
The steady increase has been linked to fluctuations in the global crude oil market and changes in supply costs.
Global crude oil pressure drives increase
The latest adjustment follows an earlier price hike by Dangote Refinery and depot operators, who raised ex-depot prices to N1,275 and N1,320 per litre respectively.
Benchmark crude prices, including Brent and West Texas Intermediate (WTI), reportedly rose to $111 and $105 per barrel due to geopolitical tensions in the Middle East.
Marketers cite global volatility
Spokesperson of the Independent Petroleum Marketers Association of Nigeria, Chinedu Ukadike, said global oil volatility continues to impact domestic fuel pricing.
“Though Dangote Refinery has helped cushion the impact, global crude oil price volatility is impacting the domestic market,” he said.
Rising hardship amid Workers’ Day
The increase in fuel prices comes as Nigerians mark Workers’ Day, with the minimum wage pegged at N70,000 amid rising living costs.
The development has intensified public concern over inflation and transportation expenses across the country.
