The pump price of premium motor spirit (PMS), also known as petrol, has risen to as high as ₦1,040 per litre in Lagos and ₦1,080 per litre in Abuja following a fresh adjustment across retail outlets.
The increase comes a day after the Dangote Refinery raised its ex-gantry price of petrol to ₦995 per litre.
Checks across several filling stations in Lagos and Abuja showed that the price of the product has been adjusted upward.
At outlets operated by Nigerian National Petroleum Company Limited in Ilasa, Apple Junction, and Ago Palace Way in Lagos, petrol was sold for ₦1,040 per litre, representing an increase of ₦47 from the previous price of ₦993 per litre.
Other retail outlets also implemented similar increases. Stations operated by Emadeb Energy and PM Petroleum along the Oshodi–Apapa Expressway sold petrol at ₦1,040 per litre, while a station operated by Techno Oil in Festac Town dispensed the product at ₦1,050 per litre.
Fuel outlets run by MRS Oil Nigeria Plc in Lagos sold petrol at ₦1,057 per litre.
In Abuja, petrol was sold at ₦1,050 per litre at stations operated by Gegu Oil Nigeria along the Kubwa Expressway, while stations run by Empire Energy dispensed the product at ₦1,080 per litre.
However, at a station operated by AP Plc, petrol was sold at ₦959 per litre.
The latest price increase comes amid ongoing geopolitical tensions in the Middle East, as crude oil prices rose to about $91 per barrel during the continuing conflict involving the United States, Israel, and Iran, which has triggered shifts in global oil markets.
