Petrol prices have risen to about N1,430 per litre in Abuja, causing concern among residents.
The latest incease comes after Dangote Petroleum Refinery increased it’s gantry price by N85, from N1,265 to N1,350 per litre, amid a surge in global crude oil prices.
Brent crude, the benchmark for Nigeria’s oil, was trading at about 107.92 dollars per barrel, and has now risen to 108.21 dollars per barrel.
The increase has intensified pressure on downstream operators and triggered further adjustments in petrol prices across the FCT.
Motorists will most likely be faced with higher prices at filling stations in the coming weeks, higher transportation costs and more financial burden on households.
As of this morning, some filling stations have adjusted their prices from N1,350 to N1,400 per litre to N1, 430 per litre.
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