Fuel prices have risen dramatically throughout Nigeria, with many fuel stations now selling petrol for N1,364 to N1,444 per liter, highlighting the increasing influence of surging global crude oil prices on the local market.
Egalitarian Voice findings on Thursday evening revealed that key marketers like the Nigerian National Petroleum Company Limited (NNPCL), MRS, BOVAS, Ardova (AP), and Mobil, modified their pump prices to a range of N1,364 to N1,370 per liter.
Other stations like AA Rano, Emedab, Empire Energy, and Ranoil are retailing petrol at elevated prices, between N1,370 and N1,440 per liter.
This represents a significant rise from approximately N900 per liter noted in February 2026.
The most recent change occurs just 24 hours after Dangote Refinery and depot proprietors increased their gantry and ex-depot prices to N1,275 and N1,320 per liter, respectively, citing rising global crude oil prices as the reason for the increase.
As of Friday morning, Brent and West Texas Intermediate (WTI) crude benchmarks were observed rising to $111 and $105 per barrel, propelled by ongoing tensions between Iran, the United States, and Israel in the Middle East.
The scenario has been worsened by the recent departure of the United Arab Emirates from the Organization of Petroleum Exporting Countries (OPEC), contributing to instability in the global oil market.
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Regarding the matter, Chinedu Ukadike, spokesperson for the Independent Petroleum Marketers Association of Nigeria, stated that the increase in global oil prices is greatly impacting local fuel prices.
“While Dangote Refinery has mitigated the effects, fluctuations in global crude oil prices are affecting the local market,” he stated.
The ongoing increase in fuel prices has heightened demands for immediate government action, as Nigerians face deteriorating economic situations.
The initiative is arriving at a crucial moment, as employees commemorate the May Day festivities, alongside the minimum wage.
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