Petrol Prices Rise Again as New Rates Per Litre Emerge in Lagos, Abuja, Other Major Cities
- Petrol prices in Nigeria rose to record levels in several cities, including Lagos, Abuja, Kaduna, and Akure
- The increase, observed at major filling stations, was linked to global crude oil market disruptions
- Rising fuel costs were already pushing up transport fares and worsening the cost of living for many Nigerians
Oluwatobi Odeyinka is a business editor at Legit.ng, covering energy, the money market, technology, and macroeconomic trends in Nigeria.
Petrol prices in Nigeria have increased further across major cities, raising concerns about inflation and the cost of living as global oil market tensions persist.
According to a survey by TheCable, pump prices rose by as much as N100 per litre in several locations on Monday, reflecting ongoing volatility in international crude oil markets.
Source: Getty Images
Price increases recorded in Lagos, Abuja, others
In Lagos, petrol prices at MRS Oil Nigeria stations in Festac and Ikorodu increased from N1,232 to N1,332 per litre.
Similarly, outlets operated by TotalEnergies in Festac and along the Apapa/Oshodi Expressway adjusted prices from N1,250 to N1,332 per litre, while its Abule Egba station sold at N1,329 per litre.
Retail outlets owned by Nigerian National Petroleum Company Limited along Ago Palace Way and Apple Junction also raised prices from N1,230 to N1,330 per litre.
In Abuja, NNPC stations increased pump prices to N1,361 per litre, while Shafa filling station near the Dunamis headquarters along Airport Road sold petrol at N1,370 per litre.
Prices climb in other states
In Akure, PetroCam filling station raised its price from N1,200 to N1,340 per litre.
Across Kaduna, petrol prices hovered around N1,370 per litre, with Shema and Rano filling stations recording some of the highest rates. An NNPC outlet in Kakuri also adjusted its price upward to N1,372 per litre.
In Ogun state, SGR filling station in Mowe sold petrol at N1,350 per litre, while an MRS station along Simawa Road adjusted its price to N1,338 per litre.
Global oil market driving local prices
Industry observers link the rising pump prices to ongoing instability in the global crude oil market following tensions in the Middle East.
The US-Iran conflict has disrupted supply chains, with security concerns affecting key shipping routes such as the Strait of Hormuz and the Suez Canal.
These routes handle a significant portion of the global oil trade, and disruptions have pushed crude prices higher.
Data shows that crude oil prices climbed to $114.08 per barrel on March 19, the highest level since May 2022.
The rising cost of petrol has already translated into higher transportation fares across the country, with some commuters reporting that costs have doubled in recent weeks.
Analysts warn that sustained increases in fuel prices could further drive inflation, affecting food prices and other essential goods.
Source: Getty Images
Dangote Refinery exports fuel to 5 countries
Legit.ng earlier reported that the Dangote Petroleum Refinery exported 12 cargoes of refined petroleum products totalling 456,000 tonnes to five African countries.
The development came as many African countries continue to grapple with fuel shortages and price volatility, worsened by geopolitical tensions affecting global supply chains.
The products were sold to international traders on a Free on Board basis after the refinery reached its 650,000 barrels-per-day capacity in February 2026.
Proofreading by Funmilayo Aremu, copy editor at Legit.ng.
Source: Legit.ng
