By Nchetachi Chukwuajah
The price of petrol in major cities across Nigeria has increased to N1,300 per litre following a fresh increase in the gantry price of the commodity by Dangote Refinery to N1,175 per litre.
The price increase, which is the third upward adjustment within a week, was announced to marketers on Monday, March 9, following the temporary suspension of petrol sales at the refinery on Sunday.
The refinery had announced an increase from N774 to N995 per litre on Friday, March 6. The fresh hike represents an increase of N180 or about 18.1 per cent within three days.
It also revised the gantry price of Automotive Gas Oil (AGO), popularly known as diesel, to N1,620 per litre.
Checks showed that with the price increase, filling stations consequently adjusted the pump price of petrol to between N1,200 and N1,300 per litre on Monday.
The product retailed for between N1,020 and N1,080 on Saturday and Sunday after the refinery increased its gantry price to N995 per litre on Friday.
The fuel price increase has also triggered a hike in transportation costs, with fares witnessing a 50 per cent increase or doubling.
In Ibadan, Oyo State, commuters now pay N600 from Mokola to Challenge, a distance that cost N400 previously.
Transporters now charge between N250 and N300 for trips from Sango to UI, from N200 previously, and charge between N400 and N500 from Mokola to UI, up from N300.
The fresh increase in petrol price has elicited reactions from Nigerians, who lament the strain on their finances.
Across several social media platforms, Nigerians note that the price increase would trigger a rise in the cost of goods and services, while questioning why Nigeria should be affected by the tension in the0 Middle East being an oil-sufficient nation.
On Facebook, Uloma Opuru wrote, “Petrol is now 1,175. Since wey I buy motor, I never rest,” adding, “Thank God I filled my tank when it was 837. Hopefully the price will reduce before I exhaust mine, if not.”
Olumide Lawrence Odeyemi added, “Make nobody invite me come anywhere this period o. even my employer should not invite me to work. If you need me, bring yourself to my house.”
On X (formerly Twitter), @ChkwkSnny said, “Last week it was 995. God abeg. Light no dey, fuel price increasing. Which crime did we commit?
@Dannymasterp tweeted, “Honestly, this is getting tougher especially for our country Nigeria, which is a highly oil-dependent economy. At this point, I think the world leaders need to raise their voices in oneness to condemn Donald Trump’s actions of using military force against sovereign countries that are causing this sudden increase in fuel price or else the whole world will not like the end result of this US-Israel-Iran War.”
@Christbeloved00 added, “Petrol at N1,175 per litre despite local refining? Nigerians were told the refinery would help stabilise prices. At this rate, people are asking what real relief it is bringing to ordinary citizens.”
@EmekaIbemeka said, “This is getting ever interesting. Even more interesting is the fact that when the war ends, and crude price drops back, you will be amazed at the very little or no decline in price here in Nigeria.”
