Petrol Price Hits N1,080/Litre in Major Nigerian City as Fuel Queues Return, Transport Fares Surge
- Petrol prices have risen, leading to long queues at filling stations and growing difficulty for motorists trying to buy fuel
- The increase has already pushed up transportation fares on several routes, as commercial drivers adjust to the higher cost of fuel
- Residents warn that if the trend continues, transport costs and the prices of goods could rise further across the city
Legit.ng journalist Victor Enengedi has over a decade's experience covering energy, MSMEs, technology, banking and the economy.
Motorists and commuters in Ibadan and nearby communities are once again grappling with long queues at petrol stations as the pump price of Premium Motor Spirit (PMS), commonly called petrol, rises to between N1,020 and N1,080 per litre.
The latest increase has quickly begun to affect daily transportation in the city, with commuters already paying higher fares on several routes.
Source: UGC
What started as isolated fare adjustments is gradually spreading across the metropolis as transport operators struggle to cope with the growing cost of fuel.
Transport fares begin to climb
The rise in petrol prices has pushed transport fares upward on some major routes across Ibadan. For example, passengers travelling from Mokola to Ojoo now pay about N600, up from the previous N500. Likewise, the fare between Dugbe and Moniya has increased to roughly N900, compared to the earlier N600.
Checks across the city indicate that the price changes are gradually extending to other routes as commercial drivers adjust their charges to reflect the higher cost of petrol.
One commercial driver, Sulaiman Adeyemi, said transport operators are often criticised for raising fares, even though the decision is driven by rising fuel costs.
Motorists struggle as scarcity tightens
Apart from the rising prices, motorists are also facing growing difficulty finding petrol. Several drivers were seen moving around the city with jerry cans in search of fuel as the availability of the product appears to be tightening.
Some filling stations that began selling petrol early in the morning reportedly shut their gates later in the day, leaving many motorists stranded and forcing others to join longer queues at stations that were still dispensing fuel.
A motorist said she had spent hours moving from one petrol station to another in search of fuel.
Another car owner warned that the continuous rise in petrol prices could worsen the cost of living for many households.
Many residents fear that if the trend continues, both transportation costs and the prices of basic goods could rise further across the city.
The latest adjustment in pump prices comes as global oil prices climbed to about $84 per barrel, rising sharply from levels below $70 per barrel days earlier following geopolitical tensions involving the United States, Iran, Israel and other countries.
Source: Legit.ng
