Fuel Prices Skyrocket: Nigerian filling stations hit N900 per litre amidst crude oil volatility – Reports

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Nigerian filling stations have raised petrol prices to N900 per litre and above, despite a recent decline in crude oil prices. This development follows the Dangote Refinery’s decision to halt sales in naira, citing a mismatch between sales proceeds and crude oil purchase obligations.

Several oil marketers, including Rainoil, Prudent, A.Y.M. Shafa, and Mainland, are now selling petrol at N900 per litre at their depots. As a result, petrol prices at filling stations across the country are likely to rise. Some independent retail outlets are already selling petrol for between N930 and N950 per litre, reflecting the higher prices from the depots.

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The Major Energies Association of Nigeria reported an N88 per litre increase in the cost of imported petrol, raising concerns that petrol prices could continue to rise. Industry analysts attribute the price hike to rising crude oil costs and fluctuating market conditions.

Current Petrol Prices at Various Filling Stations:

– MRS Oil: ₦930 per litre in Lagos and ₦960 per litre in northern regions

– AP (Dangote Refinery Partner): N925 per litre in Mowe, Ogun State

– Heyden: N910 per litre

– TotalEnergies: N910 per litre

– Asharami: N905 per litre

– NIPCO: N890 per litre

– Fatgbems: N892 per litre

– Enyo: N915 per litre

– Empire Energy: N935 per litre (recently increased from N905)

– Ranoil: N970 per litre (recently increased from N900)

The price increase has sparked concerns about the impact on transport costs and consumer goods pricing nationwide. While some expect prices to drop soon, others worry that the trend may continue, given the volatility of crude oil prices globally

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