Motorists in Abuja are facing higher fuel costs as several filling stations increased the pump prices of Premium Motor Spirit (PMS) following adjustments in ex-depot rates by suppliers.
Over the past 24 hours, some outlets have raised prices by up to N70 per litre, compounding the economic strain on consumers.
As of Saturday, Empire Energy and Ranoil filling stations in Gwarimpa and other parts of the capital adjusted their prices to N935 and N970 per litre, respectively, up from N905 and N900 the previous night.
However, major marketers such as the Nigerian National Petroleum Company (NNPC), MRS, Optima, and Ardova maintained slightly lower rates, selling petrol at N885 to N890 per litre.
Chinedu Ukadike, spokesperson for the Independent Petroleum Marketers Association of Nigeria (IPMAN), confirmed that the hike stems from increased ex-depot prices set by Dangote Refinery and private depot operators.
According to Ukadike, Dangote’s ex-depot price rose from N820 to N858 per litre, while other depots, including NIPCO, Aiteo, and Ranoil, also raised their rates to between N855 and N870 per litre.
Industry sources attribute the upward adjustment to fluctuations in foreign exchange rates and global crude oil prices. Despite a recent dip in international benchmarks—with Brent crude trading at $69.67 and West Texas Intermediate at $67.33—local fuel prices remain sensitive to supply chain dynamics and distribution costs.
The latest increase adds to Nigeria’s persistent fuel price volatility, raising concerns about inflationary pressures. Analysts warn that further hikes could worsen transportation costs and commodity prices, disproportionately affecting low-income households.
Market observers are closely monitoring whether NNPC’s stable pricing will hold or if a broader upward adjustment is imminent.
Authorities have yet to issue an official statement on the development, leaving consumers uncertain about future pricing trends. Stakeholders continue to call for policy interventions to stabilise supply and mitigate the impact of global market fluctuations on domestic fuel costs.
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cc: Daily Post Ng
