Panic as petrol price rises to N970 in fuel stations

Panic as petrol price rises to N970 in fuel stations

Reports are emerging that the pump price of petrol has increased to between N930 and N970 per litre in some parts of Lagos and its outskirts as against the former price of N865 per litre.

The price changes were implemented on Saturday evening with attendants in some of these filling stations saying that they sold petrol at N865 per litre earlier in the day before the got instructions on the increase.

This may not be unconnected to the recent revelations by oil marketers that the landing cost of imported petrol has increased by N88 per litre in one week amid reports of an increase in the importation of the commodity.

Nairametrics can confirm that an AP filling station on Admiralty Road in Lekki Phase 1 was selling the product at N930 per litre with some other retail outlets in Lagos selling at between N930 and N935 per litre.

Similarly, retail stations at Abuja and Magboro in Ogun state are selling petrol at prices ranging between N960 per litre and N970 per litre.

This is about the first petrol price increase since the beginning of 2025 as against several reductions this year with the price war between the Nigerian National Petroleum Company (NNPC) Limited and Dangote Refinery.

📝: @nairametrics