Petrol pump prices have begun rising across Nigeria after private depot owners benchmarked Premium Motor Spirit (PMS) loading prices at around ₦1,200 per litre, with filling stations in Lagos and several other states adjusting retail prices upward in response to the higher wholesale costs.
An exclusive survey by Petroleumprice.ng showed that filling stations along the Isheri-Igando Road corridor in Lagos have implemented fresh price increases, reflecting the gradual transmission of higher depot prices to the retail market.
Checks showed that Toluwalashe sold petrol at ₦1,198 per litre, Einiceato dispensed at ₦1,185 per litre, Techno Oil sold at ₦1,160 per litre, while Mavdav offered the product at ₦1,150 per litre.
The latest adjustments follow the wholesale market shift recorded earlier this week after private depot owners across Lagos, Port Harcourt, Warri and Calabar moved petrol loading prices into the ₦1,200-₦1,230 per litre range following the temporary suspension of product loading at Dangote Petroleum Refinery. Although the refinery did not announce any change to its official ex-depot price, marketers and depot operators adjusted prices amid uncertainty over the refinery's pricing direction.
The higher wholesale prices are now beginning to reflect at filling stations across the country.
A survey by PUNCH showed that pump prices have increased across major cities, with motorists paying between ₦1,100 and ₦1,230 per litre, depending on location.
In the Federal Capital Territory, petrol sold between ₦1,118 and ₦1,200 per litre. The NNPCL retail outlet in Wuse Zone 2 dispensed at ₦1,118 per litre, while TotalEnergies along the Kubwa Expressway sold at ₦1,119 per litre. AYM Shafa and Bovas sold at ₦1,180 per litre, while Sunset Energy and Mainland filling stations dispensed at ₦1,200 per litre. An MRS outlet along the Kubwa Expressway was not selling petrol during the survey.
In Port Harcourt, petrol sold for ₦1,200 per litre, with Eterna filling station among outlets dispensing at the new price.
In Kaduna, pump prices rose to ₦1,230 per litre at outlets including Edi-Jen, A.A. Rano, Rainoil and Future View, while the NNPCL Mega Station sold at ₦1,168 per litre.
In Enugu, filling stations sold petrol between ₦1,100 and ₦1,220 per litre. NIPCO dispensed at ₦1,180 per litre, Pinnacle Oil at ₦1,200 per litre, while Tetris Energy sold at ₦1,180 per litre.
In Edo State, petrol prices ranged from ₦1,140 to ₦1,200 per litre. The NNPCL station on Sapele Road sold at ₦1,140 per litre, while MRS dispensed at ₦1,171 per litre.
In Ondo State, pump prices ranged from ₦1,110 to ₦1,125 per litre, while motorists in Ilorin, Kwara State, bought petrol at prices ranging from ₦1,100 to above ₦1,150 per litre, according to PUNCH.
The latest retail price adjustments indicate that the earlier increase in depot loading prices is beginning to pass through the downstream supply chain, with independent marketers across several states revising pump prices in line with higher wholesale acquisition costs.