Petrol prices have risen sharply across Nigeria, with several filling stations now dispensing fuel between N1,364 and N1,444 per litre, underscoring the growing impact of rising global crude oil prices on the domestic market.
Findings by DAILY POST on Thursday evening revealed that major marketers, including the Nigerian National Petroleum Company Limited (NNPCL), MRS, BOVAS, AP (Ardova), and Mobil, have adjusted their pump prices to between N1,364 and N1,370 per litre.
Other outlets such as AA Rano, Emedab, Empire Energy, and Ranoil are selling petrol at even higher rates, ranging from N1,370 to N1,440 per litre.
The latest figures represent a steep increase from the approximately N900 per litre recorded in February 2026, highlighting the rapid escalation in fuel costs within a short period.
The adjustment comes barely 24 hours after the Dangote Refinery and depot owners raised their gantry and ex-depot prices to N1,275 and N1,320 per litre, respectively. The hike was attributed to a surge in global crude oil prices.
Checks on Friday morning showed that Brent and West Texas Intermediate (WTI) crude benchmarks climbed to $111 and $105 per barrel, respectively. The increase has been driven by sustained geopolitical tensions involving Iran, the United States, and Israel in the Middle East.
The situation has been further complicated by the recent exit of the United Arab Emirates from the Organization of Petroleum Exporting Countries, a move analysts say has heightened volatility in the global oil market.
Reacting to the development, the spokesperson of the Independent Petroleum Marketers Association of Nigeria (IPMAN), Chinedu Ukadike, noted that the surge in global oil prices is significantly impacting domestic fuel costs.
“Though Dangote Refinery has helped cushion the impact, global crude oil price volatility is impacting the domestic market,” he said.
The continued rise in petrol prices has intensified calls for urgent government intervention, as Nigerians grapple with worsening economic conditions.
The development comes at a critical time as workers mark the International Workers’ Day celebration, with the minimum wage at N70,000 and the cost of living continuing to rise alongside fuel prices, which are now approaching N1,500 per litre.
