Petrol Price Rises To N1,040 Per Litre In Lagos, N1,080 In Abuja

Petrol prices have risen again in parts of Nigeria, with motorists now paying as much as N1,040 per litre in Lagos and up to N1,080 per litre in Abuja.

The latest increase followed the decision by Dangote Refinery to raise its ex-gantry price of Premium Motor Spirit (PMS) to N995 per litre earlier in the week.

A survey carried out on Saturday across several filling stations in Lagos and the Federal Capital Territory showed that many outlets had already adjusted their pump prices.

At NNPC retail stations located in Ilasa, Apple Junction and Ago Palace Way in Lagos, petrol was being sold at N1,040 per litre. The new rate represents an increase of N47 compared with the former price of N993 per litre.

Along the Oshodi/Apapa Expressway, both Emadeb Energy and PM Petroleum also dispensed petrol at N1,040 per litre.

In Festac Town, Techno Oil adjusted its pump price to N1,050 per litre, while MRS stations across Lagos sold the product at N1,057 per litre.

In Abuja, motorists encountered varying prices at different stations. Gegu Oil Nigeria on Kubwa Expressway sold petrol at N1,050 per litre, while Empire Energy stations offered it at N1,080 per litre.

However, an AP filling station in the capital dispensed the product at N959 per litre.

The rise in pump prices comes amid heightened tensions in the Middle East, which have driven fluctuations in global crude oil markets.

On Friday, the price of crude oil climbed to about $91 per barrel as the conflict involving the United States, Israel and Iran continued to intensify across the region.