The Nigerian National Petroleum Company Limited (NNPC) and independent marketers have once again raised the pump price of petrol across the country.
The new price now stands at ₦955 per litre, up from ₦905 barely a week ago.
The fresh increase has triggered more concerns among Nigerians already battling the rising cost of living.
It also comes as cooking gas prices soar nationwide, worsening the financial strain on households.
POLITICS NIGERIA gathered that a 12.5kg cylinder of cooking gas now sells for about ₦37,500, compared to ₦12,500 just two weeks ago.
In most cities, the cost of one kilogram of gas has climbed to around ₦3,000, a sharp jump from ₦1,000 earlier this month.
In Abuja, NNPC retail outlets located in Wuse, Gwarimpa, and along the Kubwa Expressway adjusted their prices on Monday to reflect the new rate of ₦955 per litre.
Private filling stations such as AA Rano, Mobil, and Ranoil are now selling between ₦920 and ₦930 per litre, while some MRS stations were dispensing at ₦851 over the weekend.
Speaking on the development, the National President of the Petroleum Products Retail Outlets Owners Association of Nigeria (PPROOAN), Billy Gillis-Harry, confirmed the increase and linked it to market and logistics issues.
The Public Relations Officer of the Independent Petroleum Marketers Association of Nigeria (IPMAN), Chinedu Ukadike, also attributed the price hike to higher depot costs and insufficient supply from major producers.
According to him, “Dangote increased their loading price to ₦845 per litre, as against ₦825 earlier sold, thereby resulting to a selling price of between ₦900 and ₦955, depending on the location.”
Ukadike further explained that many marketers who paid for products at Dangote Refinery have not been able to load fuel for about two weeks due to rationing and limited supply. “When people are scrambling for products, it results to hike in price,” he said.
However, several filling stations depending on Dangote’s supply have been dry since Sunday, causing scarcity and long queues in parts of Lagos and Abuja.
Transport fares have also started rising as motorists pass the extra cost to passengers.