Abuja Filling Stations Raise Petrol Prices Amid Dangote Refinery Adjustment
Several filling stations across the Federal Capital Territory (FCT) have increased the pump price of Premium Motor Spirit (PMS), commonly known as petrol, following successive upward adjustments in the ex-depot price by the Dangote Refinery.
The development comes despite a recent decline in international crude oil prices, with crude reportedly falling from about $92 per barrel to $87.31 per barrel.
The Dangote Refinery increased its gantry price from N1,165 per litre to N1,185, before further adjustments to N1,200 and N1,265 within the past week. The latest increase represents a N65 rise from the previous price of N1,200 per litre.
Checks in Abuja on Sunday showed that several filling stations had reviewed their pump prices upward, leaving motorists to pay more for petrol.
AY Shafa, for instance, increased its price from N1,250 to N1,270 per litre, while Optima raised its pump price from N1,260 to N1,300 per litre.
The Nigerian National Petroleum Company Limited (NNPC) also adjusted its pump price from N1,250 to N1,270 per litre.
The development has raised concerns over the impact of rising fuel prices on households and businesses.
An economist, Samson Ogunjimi, described the situation as a growing financial burden on Nigerians, saying many people were struggling to cope with the wider economic consequences of higher petrol prices.
Ogunjimi urged the Federal Government to urgently take steps to stabilise fuel prices and reduce the pressure on citizens.
Similarly, the National Publicity Secretary of the Independent Petroleum Marketers Association of Nigeria (IPMAN), Chinedu Ukadike, said the latest pump price adjustments were a response to successive changes in the Dangote Refinery’s prices.
According to him, petroleum marketers cannot continue to sell below the replacement cost of the product.
Ukadike added that frequent changes in petrol prices were creating uncertainty for both marketers and consumers, particularly because the cost of replacing their stock could change significantly within a short period.
Meanwhile, Brent crude was reported at $88.10 per barrel, representing a 0.47 per cent decline, while West Texas Intermediate (WTI) fell by 0.16 per cent to $83.40 per barrel.
