Petrol prices have risen to as high as N1,300 per litre across parts of Abuja following a series of price adjustments by Dangote Refinery.
Several filling stations in the Federal Capital Territory increased their pump prices after the refinery raised its gantry, or ex-depot, price multiple times within one week.
The increases came despite a decline in international crude oil prices.
Brent crude traded at $88.10 per barrel, down 0.47 per cent, while West Texas Intermediate fell 0.16 per cent to $83.40 per barrel. Crude oil prices had also declined from $92 per barrel to $87.31 per barrel.
Dangote Refinery increased its ex-depot petrol price from N1,165 per litre to N1,185, before further adjustments to N1,200 and N1,265 per litre within the last week.
The latest increase represents a N65 rise from the previous ex-depot price of N1,200 per litre.
The adjustment has since been reflected at filling stations across the FCT, where motorists are paying significantly higher prices for petrol.
Checks across Abuja on Sunday showed that AY Shafa increased its pump price from N1,250 to N1,270 per litre.
Optima raised its price from N1,260 to N1,300 per litre, while NNPC adjusted its price from N1,250 to N1,270 per litre.
The rising cost of petrol has renewed concerns over the growing pressure on households and businesses, particularly as transport and other essential costs continue to rise.
Economist Samson Ogunjimi described the situation as increasingly difficult for Nigerians, saying higher fuel prices were worsening the financial strain on livelihoods.
He urged the Federal Government to intervene and stabilise petrol prices to reduce the economic burden on consumers.
The National Publicity Secretary of the Independent Petroleum Marketers Association of Nigeria, Chinedu Ukadike, said marketers were forced to review their pump prices following repeated adjustments by Dangote Refinery.
Ukadike said marketers could not continue selling petrol below the cost of replacing their supplies.
He added that frequent changes in depot prices were creating uncertainty for both petroleum marketers and consumers, as the cost of replacing products could change significantly within a short period.
The latest increase means motorists in parts of Abuja are now paying up to N1,300 per litre for petrol, further raising concerns about the potential impact on transportation costs and the wider cost of living.
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