Petrol prices are rising sharply across Nigeria, with pump prices reaching ₦1,500 per litre in several northern states and about ₦1,430 in major cities, as the escalation of the U.S.-Iran conflict continues to feed into the international oil market and domestic fuel costs.
The latest market pressure has prompted the Nigeria Labour Congress to demand immediate measures from the Federal Government to cushion households and businesses from the impact. In a statement signed by NLC President, Joe Ajaero, the labour centre called for reasonable wage awards, increased crude oil supply to local refineries in naira and expansion of national petroleum storage capacity. The NLC also said emergency intervention, including subsidies, should not be ruled out where necessary.
The impact is already visible across the physical retail market. In Yobe, petrol is selling for between ₦1,500 and ₦1,520 per litre in parts of Damaturu, while Kano and Sokoto have recorded prices of up to ₦1,500. Borno is also at about ₦1,500, while Taraba has recorded prices between ₦1,500 and ₦1,700. In Mubi, Adamawa State, prices have climbed as high as ₦1,850. Other states including Kaduna, Benue, Kogi, Plateau, Bauchi and Rivers are also recording prices above ₦1,400 per litre.
The latest pump-price increases come after Dangote Petroleum Refinery raised its PMS gantry price from ₦1,265 to ₦1,350 per litre, effective September 12. The refinery has now increased its petrol gantry price four times since August 21, moving from ₦1,165 to ₦1,185, then ₦1,200, ₦1,265 and finally ₦1,350 per litre. The cumulative increase stands at ₦185 per litre, or about 15.9 per cent, in 22 days. Its coastal PMS price also increased by ₦113,987 to ₦1,783,530 per tonne.
Fuel marketers have warned that the market could face further increases if international crude prices continue to rise. IPMAN Publicity Secretary, Chinedu Ukadike, said petrol prices would continue to respond to higher crude costs and urged the Federal Government to intervene through the Presidential Committee on Crude Oil. He also proposed supplying crude to domestic refineries at a price slightly below international market levels and reviewing some statutory charges imposed on petroleum-product distribution.
For the downstream market, the development comes as the cost of transporting people and goods is already responding to higher pump prices. In Kano, for instance, commercial tricycle operators have raised fares by about 50 per cent on some routes, while transport costs have also increased in Benue. The NLC warned that sustained petrol-price increases would feed into food, rent, school fees, transportation and other essential costs, and argued that additional government revenue from higher crude prices should provide room for measures to protect consumers.