PETROL PRICE RISES TO N1,350/LITRE IN ABUJA AS MOTORISTS EXPRESS FRUSTRATION
Read Time:2 Minute, 6 Second
AGENCY REPORT
The price of Premium Motor Spirit, commonly known as petrol, has climbed to as much as N1,350 per litre in some parts of the Federal Capital Territory, following a series of increases in the gantry price by the Dangote Refinery within the past week.
Checks by the News Agency of Nigeria on Monday revealed that several filling stations across the FCT had raised their pump prices.
Eterna filling station sold petrol for N1,320 per litre, while Gegu Oil and Salbas Oil sold at N1,310 and N1,330 per litre, respectively.
Other stations, including Nipco and AY Shafa, pegged their prices at N1,350 per litre, while TotalEnergies sold the product at N1,280 per litre.
The latest increase followed a series of adjustments by Dangote Refinery, which raised its gantry price from N1,165 per litre to N1,185, then N1,200 and eventually N1,265 within one week.
The development has increased the financial burden on motorists, with some expressing concern about the effect of rising fuel costs on their daily lives and businesses.
A motorist in Gwarinpa, Olusegun Abbas, said he purchased petrol at N1,320 per litre, while another motorist in Dutse, Adewale Salau, bought the product at Gegu filling station for N1,310 per litre.
Salau described the situation as unbearable, noting that the rising cost of petrol was worsening the hardship faced by many households.
He appealed to the Federal Government to urgently intervene and stabilise petrol prices.
Another motorist in Kubwa, Stanley Okezie, said petrol was being sold for N1,350 per litre in his area.
According to him, the continued increase in fuel prices would further drive up the cost of food, as traders would have to factor higher transportation expenses into the prices of their goods.
Okezie also urged the government to take measures to stabilise the market and reduce the economic pressure on Nigerians.
A development expert, Dr Aliyu Ilias, expressed concern over the impact of the rising petrol prices, describing the economic consequences as severe.
He urged the Federal Government to find a lasting solution to the frequent price increases and make petrol more affordable for Nigerians.
Meanwhile, the National Publicity Secretary of the Independent Petroleum Marketers Association of Nigeria, Chinedu Ukadike, attributed the latest hike to successive adjustments in the refinery’s gantry price.
Ukadike explained that marketers could not continue selling petrol below the replacement cost, adding that the frequent price adjustments were creating uncertainty for both consumers and petroleum dealers.
NAN
Happy
0 %
Sad
0 %
Excited
0 %
Sleepy
0 %
Angry
0 %
Surprise
0 %
0
0