Petrol prices have increased across filling stations in Abuja, Lagos and Ibadan amid rising crude oil prices and supply costs linked to escalating tensions in the Middle East.
Checks by TheCable on Sunday showed that petrol sold for as high as N1,450 per litre in Abuja. Optima and Empire filling stations raised their prices to N1,450, while AY Shafa and Mobil sold at N1,395 and N1,400 respectively.
In Lagos, Conoil in Ikorodu Garage sold at N1,400, up from N1,300 last week. Bovas in Berger also increased to N1,400, while an NNPC outlet in Berger moved from N1,299 to N1,380.
MRS and TotalEnergies in Okota adjusted their prices to N1,395 and N1,385 respectively.
In Ibadan, Ocean Breeze on Old Ife Road raised its price from N1,300 to N1,370 per litre.
The latest increases followed a reported rise in ex-depot prices, including Dangote Refinery’s adjustment of its petrol gantry price from N1,265 to N1,350 per litre.
Meanwhile, international crude prices have surged above $100 per barrel, with Brent at about $104 and WTI at $99 as of September 13, amid fears that the escalating Middle East conflict could disrupt global oil supplies.
The Strait of Hormuz, a critical oil shipping route, has also faced growing disruption as Iran and the United States continue their confrontation, raising fears of further increases in global crude prices.
The development could translate into additional pressure on petrol prices, transportation costs and the wider cost of living in Nigeria.
