By Oke Peter
Nigerians are facing fresh pressure on household spending as petrol prices continue to rise across the country, with pump rates now nearing ₦1,400 per litre in some major cities. The latest increase is already worsening transportation costs and raising fears of another round of inflationary impact on food and basic goods, especially in urban centres such as Lagos, Abuja and Port Harcourt.
Energy Worth Online reports that the new hike is linked to rising depot and ex-depot prices, following an upward adjustment by the Dangote Refinery, which reportedly increased its petrol ex-depot price by about ₦75 to ₦1,275 per litre. Marketers say the increase has pushed supply costs higher, forcing filling stations to adjust their pump prices upward almost immediately.
Across several parts of Lagos and the South-West, petrol is now selling between ₦1,250 and ₦1,350 per litre, while some stations in the North and South-South have moved beyond ₦1,350, depending on logistics and distance from supply points. Commuters and commercial drivers have already begun passing the cost to passengers, triggering another spike in transport fares.
Industry stakeholders attribute the hike to a combination of domestic supply constraints and international market uncertainty. Rising crude oil prices driven by geopolitical tension in the Middle East and global shipping concerns have continued to affect the cost of imported refined products, while exchange rate instability remains a key factor pushing landing costs upward for marketers.
The impact is already spilling into the wider economy, as businesses that rely heavily on fuel for logistics and power generation are forced to adjust prices. Traders and transporters have warned that the continued rise in petrol price will further increase the cost of moving goods from farms and ports, worsening the already high prices of food and essential commodities.
Labour groups and civil society organisations have renewed calls for urgent interventions, including temporary relief measures and improved transparency in fuel pricing. They argue that without targeted support, the rising cost of energy will deepen hardship for workers and small business owners who are still struggling with the effects of subsidy removal and high inflation.
For many Nigerians, the latest hike has become another painful reminder of the country’s fragile energy supply structure. With petrol edging closer to ₦1,400 per litre, consumers fear that unless supply stabilises and pricing becomes more predictable, the cost-of-living crisis could worsen in the coming weeks.
