Petrol prices have climbed sharply across Nigeria, with several filling stations now dispensing fuel between N1,364 and N1,444 per liter, reflecting the growing impact of rising global crude oil prices on the domestic market.
Findings on Thursday evening showed that major marketers, including the Nigerian National Petroleum Company Limited (NNPCL), MRS, BOVAS, AP (Ardova), and Mobil, adjusted their pump prices to between N1,364 and N1,370 per liter.
Other outlets such as AA Rano, Emedab, Empire Energy, and Ranoil are selling petrol at higher rates, ranging from N1,370 to N1,440 per liter.
This marks a steep increase from around N900 per liter recorded in February 2026.
The latest adjustment comes barely 24 hours after Dangote Refinery and depot owners raised their gantry and ex-depot prices to N1,275 and N1,320 per liter, respectively, attributing the hike to a surge in global crude oil prices.
Checks on Friday morning indicated that Brent and West Texas Intermediate (WTI) crude benchmarks climbed to $111 and $105 per barrel, driven by sustained tensions involving Iran, the United States, and Israel in the Middle East.
The situation has been further compounded by the recent exit of the United Arab Emirates from the Organization of Petroleum Exporting Countries (OPEC), adding to volatility in the global oil market.
Commenting on the development, the spokesperson of the Independent Petroleum Marketers Association of Nigeria, Chinedu Ukadike, said the rise in global oil prices is significantly affecting domestic fuel costs.
“Though Dangote Refinery has helped cushion the impact, global crude oil price volatility is impacting the domestic market,” he said.
The continued rise in gasoline prices has intensified calls for urgent government intervention, as Nigerians grapple with worsening economic conditions.
The development is coming at a critical time, as workers mark the May Day celebration, with the minimum wage at N70,000 and the cost of living continuing to rise alongside fuel prices nearing N1,500 per liter.