Petrol price rises to N1,040 per litre in Lagos and others

The pump price of premium motor spirit (PMS), also known as petrol, has increased to as high as N1,040 per litre in Lagos and N1,080 per litre in Abuja following a fresh price adjustment by fuel retailers.

The development comes shortly after the Dangote Refinery raised its ex-gantry price of petrol to N995 per litre.

Checks across several filling stations in Lagos showed that petrol prices have been adjusted upward in response to the refinery’s new pricing.

At outlets operated by NNPC Limited in Ilasa, Apple Junction, and Ago Palace Way, petrol was sold for N1,040 per litre.

The new rate represents an increase of N47 compared to the previous pump price of N993 per litre.

Other fuel retailers in the city also implemented similar adjustments. Stations operated by Emadeb Energy and PM Petroleum along the Oshodi–Apapa Expressway dispensed petrol at N1,040 per litre.

At a retail outlet run by Techno Oil in Festac Town, the product was priced slightly higher at N1,050 per litre, while MRS Oil Nigeria filling stations sold petrol at N1,057 per litre.

Abuja records higher pump prices

In Abuja, some filling stations recorded even higher prices during the same period.

At a station operated by Gegu Oil Nigeria along the Kubwa Expressway, petrol was sold at N1,050 per litre.

Another retailer, Empire Energy, dispensed the product at N1,080 per litre, making it one of the highest observed prices in the capital city.

However, an outlet belonging to Ardova Plc (AP) was observed selling petrol at N959 per litre, indicating slight variations across stations.

The latest price increase comes amid rising geopolitical tensions in the Middle East that have affected global energy markets.

On Friday, global crude oil prices climbed to about $91 per barrel as the conflict involving the United States, Israel, and Iran continued to escalate in the region.

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