Abuja Petrol Prices Surge Following Dangote Price Hike

Many filling stations in Abuja have increased the pump price of Premium Motor Spirit (petrol) due to an N85 rise in Dangote Petroleum Refinery’s gantry price, which has gone from N1,265 to N1,350 per litre. This 6.7 percent increase follows a surge in global crude oil prices, with Brent crude rising from approximately 107.92 dollars to 108.21 dollars per barrel.

As a result, petrol prices at various retail outlets have also increased, with MRS raising prices from N1,350 to N1,395 per litre, NIPCO from N1,350 to N1,430 per litre, and Mobil from N1,350 to N1,400 per litre. An MRS petrol attendant indicated that prices could rise further with new stock.

Economist Aliyu Ilias warned that these increases could exacerbate inflation and economic hardship, affecting transportation and production costs. Owei Lakemfa, former Secretary-General of OATUU, stressed the need for Nigeria to protect consumers from global oil price fluctuations through better economic planning and regulatory measures.