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Economy

Petrol Price Hits N1,300 a Liter in Abuja After Dangote Price Raise

Petrol prices in Abuja have climbed as high as N1,300 a litre after Dangote Refinery raised its gantry price several times within a week, forcing filling stations to adjust their pumps.

 

The refinery moved its ex-depot price from N1,165 to N1,185, then to N1,200 and later N1,265 a litre. The latest change was a N65 increase from the previous N1,200 level.

 

Marketers say those successive hikes left little room to absorb the extra cost.

 

Checks on Sunday showed AY Shafa selling at N1,270 a litre, up from N1,250. An Optima outlet charged N1,300, up from N1,260. NNPC Retail also moved from N1,250 to N1,270. Other brands in the Federal Capital Territory had already been selling in the mid-to-high N1,200s before the latest round.

 

The pump increases came even as international crude prices eased, with Brent around $88 a barrel and West Texas Intermediate lower still. That gap has fuelled debate over how much of the rise is driven by crude, naira costs, logistics or market structure after subsidy removal.

 

For motorists and transport operators in Abuja, the effect is immediate. Higher pump prices feed into fares and the cost of goods. Economists have warned that repeated fuel increases tighten household budgets at a time when many families are already stretched.

 

Dangote remains the dominant domestic supplier, while imports still account for a substantial share of petrol on the market. How long the new pump levels hold will depend on the next gantry adjustment and whether other stations follow the N1,300 mark.

Mubarak Bello

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