Nigerian filling stations have increased the pump prices of Premium Motor Spirit (PMS), commonly known as petrol, following another upward adjustment in the domestic fuel market.
A market survey by Daily Post on Monday showed that motorists in different parts of the country are now paying higher prices for petrol.
The latest increase comes after the Dangote Petroleum Refinery raised its petrol gantry price by ₦65 per litre, from ₦1,200 to ₦1,265, on August 29. The adjustment was the refinery’s third price increase within eight days, bringing its total increase during the period to ₦100 per litre.
Following the latest adjustment, petrol prices have risen to between ₦1,310 and ₦1,400 per litre in various parts of Nigeria.
Prices are around ₦1,310 in Lagos and Ogun, while motorists in northern states and areas farther from the refinery are paying ₦1,350 or more, largely due to transportation and distribution costs.
The development has increased concerns among motorists and consumers over the rising cost of transportation and other goods and services.
The Dangote Refinery, however, has defended the price increases, explaining that the cost of crude oil purchased earlier and the time required to transport it to Nigeria are among the factors influencing the current price of refined petrol.