Petrol prices have recorded another increase across parts of the country, with filling stations and depot operators raising their rates for the second time within a week amid continued uncertainty in the downstream petroleum sector.
A market check in Abuja showed that several filling stations, including independent marketers, now sell petrol between N1,275 and N1,280 per litre, up from about N1,220 per litre. The latest adjustment represents an increase of between N55 and N60 per litre.
Depot owners have also reviewed their prices upward. Major depots are now selling products at ex-depot rates ranging from N1,249 to N1,270 per litre, compared to previous prices that were as low as N1,187 per litre.
Despite the rising market prices, Dangote Refinery maintained that its petrol gantry price remained unchanged at 0.779 dollars per litre. The refinery recently resumed the sale of refined petroleum products in foreign currency.
Industry observers attribute the fresh increase in fuel prices to ongoing uncertainty in the oil and gas market. The development coincides with a rise in global crude oil prices, with Brent crude and West Texas Intermediate trading higher amid renewed tensions in the Middle East.
