The surge in international crude oil prices above $100 per barrel is pushing up petrol prices across Nigeria, with major marketers raising pump prices and creating fresh pressure on transporters, commuters, households and businesses. MRS filling stations have increased their petrol price to N1,400 per litre from N1,300, representing a N100, or 7.7 per cent, increase in Lagos and its environs. Similarly, filling stations operated by NNPC Limited have raised their pump price to N1,375 per litre from N1,275, while some independent marketers have increased their prices to N1,400 from about N1,360 per litre. The latest increases followed the rise in the gantry price of petrol by Dangote Petroleum Refinery to N1,350 per litre, reflecting the impact of higher crude oil prices and rising costs across the sector.
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