Fuel prices have increased again at several filling stations across Nigeria, with petrol now selling for as much as ₦1,320 per litre in some locations.
A market survey conducted on Monday showed that major fuel retailers, including MRS, Ranoil and Empire Energy, had raised their pump prices to between ₦1,310 and ₦1,320 per litre, up from previous prices ranging between ₦1,230 and ₦1,299 per litre.
The latest adjustments represent increases of between ₦20 and ₦80 per litre, depending on the filling station.
MRS recorded the highest increase, raising its price by ₦80 per litre, while Ranoil increased its price by ₦45 and Empire Energy by ₦25.
The development follows a recent increase in the ex-depot or gantry price of petrol by the Dangote Refinery, which reportedly raised its price by ₦65 per litre to ₦1,265.
The refinery had previously expressed concern over the continued importation of petrol, blaming the situation on the issuance of fuel import licences to marketers by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA).
Dangote Refinery has also threatened to export its petroleum products and stop supplying fuel to petrol importers and marketers amid the ongoing dispute over fuel imports and domestic supply.
The latest pump price increase is expected to further increase pressure on motorists and businesses that rely heavily on petrol for transportation and power generation.
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