The price of Premium Motor Spirit, popularly known as fuel, has recorded a significant increase in the past days, which may worsen the economic hardship Nigerians face.
MRS, a filling station partner of Dangote Refinery, kicked off the latest fuel price increase when it adjusted its petrol pump to between N925 and N950 per litre in Lagos and the Federal Capital Territory, Abuja.
Similarly, other fuel marketers such as Empire Energy, Recoil, Juda Oil, Total, Emedab, and others also increased their fuel pump to between N950 and N970 per litre.
On Wednesday, the Nigerian National Petroleum Company Limited retail outlets also jacked up their fuel price to N950 per litre from N880 in Abuja.
Summarily, DAILY POST observed motorists will have to pay N70 more to buy a litre of petrol in the coming days.
The development comes amid the suspension of petrol product sales in Naira by Dangote Refinery. This follows the initiation of the naira-for-crude sale deal between Dangote Refinery and the federal government through NNPCL.
On Wednesday, President Bola Ahmed Tinubu announced a reshuffling of NNPCL.
Meanwhile, local oil prices are increasing in Nigeria, despite the decline in global crude prices. As of the time of this report, United States West Texas Intermediate was at $62.15 per barrel, down from above $65, while Brent crude stood at $65.42 per barrel, down from $72 last week.
