The price of Premium Motor Spirit (PMS), popularly known as petrol, has risen to about N1,400 per litre, while Automotive Gas Oil (diesel) has climbed to around N1,750 per litre at several filling stations following a fresh gantry price increase by the Dangote Refinery.
The refinery on Monday raised its gantry price to N1,175 per litre for petrol and N1,620 per litre for diesel, a move that has triggered immediate adjustments in pump prices across some retail outlets.
Checks in Abuja showed that filling stations including Ranoil and Empire Energy had increased petrol prices to between N1,350 and N1,400 per litre.
Diesel prices have also surged, with some outlets reportedly selling the product for as high as N1,750 per litre, up from about N1,365 per litre.
However, MRS Oil Nigeria filling stations were still dispensing petrol at about N1,200 per litre.
A manager at an MRS station in Abuja, who spoke on condition of anonymity, said the outlet would adjust its pump price to N1,200 per litre from Tuesday, March 10, 2026, up from N1,092 per litre.
“From tomorrow (Tuesday) we will start selling fuel at N1,200 per litre. We did not have petrol on Monday,” the manager said.
Meanwhile, the Presidency has yet to respond to the development. When contacted, presidential spokesperson Sunday Dare did not respond to enquiries as of the time of filing this report.
The increase comes amid volatility in global crude oil prices following tensions involving Iran, the United States and Israel.
Global benchmark Brent crude rose by 6.76 per cent to $98.86 per barrel, while West Texas Intermediate fell to $88.11 per barrel after indications that U.S. President Donald Trump hinted at efforts to end hostilities with Iran.
The development has also triggered increases in transportation fares in parts of Abuja.
A taxi driver, Adamu Abubakar, who operates along the Dei-Dei to Area 1 route, said he had increased his fare from N1,200 to N1,500 per trip.
“It is our passengers that would take the brunt of the fuel price hike,” he said.
A commuter, Constance Onuoha, also confirmed the increase in transport fares and urged the government to intervene to prevent the situation from worsening.
The rise in diesel prices may also impact manufacturers, as higher energy costs could lead to increases in the prices of goods in the coming days.
Reacting to the development, the National President of the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN), Billy Gillis-Harry, warned that petrol and diesel prices could climb further to N2,000 and N3,000 per litre if urgent measures are not taken.
“We have a Naira-for-crude deal in place. However, the policy does not impact the crude oil price on the international market,” he said.
Also speaking, the spokesperson of the Independent Petroleum Marketers Association of Nigeria and the Nigerian Oil and Gas Suppliers Association, Chinedu Ukadike, said marketers would sell petrol based on the price they purchase from the refinery and depot owners.
“Well, we are independent marketers. Whatever we sell, we buy from Dangote Refinery and depot owners,” he said.
Ukadike noted that the major benefit of the Dangote refinery is the assurance of product availability, even though prices may remain high.
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