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Petrol prices have surged across Northern Nigeria, with motorists in some communities now paying as much as N1,850 per litre
The rising domestic supply costs and renewed pressure in the international oil market pushing pump prices higher is particularly more pronounced in northern Nigeria with some filling stations in the outskirt of Abuja selling slightly above N1, 400 per litre.
In Lagos,most filling filling were selling at N1,380 and N1,390 while prices in Ogun State have climbed to N1,410.
The sharp increase was recorded in Mubi, Adamawa State, where petrol is reportedly selling for as much as N1,850 per litre, while prices in several other northern markets have climbed to between N1,500 and N1,700 per litre.
In Yobe, petrol sells for between N1,500 and N1,520 per litre in parts of Damaturu, while Kano and Sokoto have recorded prices of up to N1,500. Borno is also selling at about N1,500 per litre, while prices in parts of Taraba have risen to between N1,500 and N1,700.
The price escalation is also being felt in Kaduna, Benue, Kogi, Plateau and Bauchi, where petrol is selling above N1,400 per litre, adding fresh pressure to household budgets, transportation and the movement of food and other goods.
The development has raised concerns about the wider inflationary impact of the latest petrol-price shock, particularly in northern communities where long-distance transportation plays a major role in the distribution of agricultural produce and other commodities.
The latest increases followed a fresh adjustment by Dangote Petroleum Refinery, which raised its petrol gantry price from N1,265 to N1,350 per litre with effect from September 12.
The latest adjustment represents the refinery’s fourth increase since August 21, when its gantry price stood at N1,165 per litre.
The price subsequently moved to N1,185, N1,200, N1,265 and now N1,350 per litre, representing a cumulative increase of N185 per litre, or 15.9 per cent, in 22 days.
The refinery also increased its coastal PMS price by N113,987 to N1,783,530 per tonne.
The rapid increases have heightened concerns among fuel marketers that pump prices could rise further if international crude oil prices maintain their upward trajectory, particularly amid the escalation of the U.S.-Iran conflict.
IPMAN Publicity Secretary, Chinedu Ukadike, said petrol prices would continue to respond to movements in crude oil costs, urging the Federal Government to intervene through the Presidential Committee on Crude Oil.
Ukadike proposed that crude should be supplied to domestic refineries at prices slightly below international market levels, while some statutory charges imposed on petroleum-product distribution should also be reviewed.
Meanwhile, the Nigeria Labour Congress has called for urgent government intervention to prevent the latest petrol-price increases from worsening the cost-of-living crisis.
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 an expansion of national petroleum storage capacity.
The NLC also said emergency measures, including subsidies, should not be ruled out where necessary to shield households and businesses from the impact of rising fuel prices.
The pressure is already spilling into transportation.
In Kano, commercial tricycle operators have reportedly increased fares by about 50 per cent on some routes, while transport costs have also risen in Benue.
For northern consumers, where petrol prices have moved well above the N1,400 mark in several markets, the latest increase is increasingly becoming a transportation and food-price issue, rather than simply a pump-price adjustment.
The NLC warned that sustained increases in petrol prices would feed through to the prices of food, rent, school fees, transportation and other essential goods and services.
The labour centre argued that the additional government revenue that could accrue from higher crude oil prices should create room for measures to protect consumers from the consequences of the latest fuel-price surge.
