Some motorists in the Federal Capital Territory (FCT) have expressed concerns over the high pump price of Premium Motor Spirit (PMS), popularly known as petrol.
Global oil prices rose on Monday, with Brent crude trading at about 90.35 dollars per barrel and West Texas Intermediate (WTI) crude trading at about 85.35 dollars per barrel.
Dangote Refinery increased its gantry price (ex-depot price) from N1,165 per litre to N1,185 per litre, and subsequently to N1,200 per litre and N1,265 per litre within the last one week.
Checks by NAN on Monday showed that filling stations across the FCT had adjusted their petrol prices upward.
Eterna filling station sold petrol at N1,320 per litre, Gegu Oil sold at N1,310 per litre, while Salbas Oil sold at N1,330 per litre.
Other filling stations, including Nipco, sold petrol at N1,350 per litre, AY Shafa at N1,350 per litre, and TotalEnergies sold at N1,280 per litre.
The development has forced motorists to pay more for the product.
A motorist in Gwarinpa, Mr Olusegun Abbas, said he bought petrol at N1,320 per litre.
He lamented the growing financial pressure on livelihoods caused by the soaring fuel prices.
Another motorist in Dutse, Mr Adewale Salau, said he bought petrol at Gegu filling station at N1,310 per litre.
He said the impact of the rising fuel cost extended beyond transportation to other aspects of livelihood.
Salau described the situation as unbearable, noting that many people are struggling to cope with the ripple effects on their livelihoods.
“I can not feed my children three times a day because of the high cost of things in the market. Traders complain that it is because of the increase in fuel prices.
“We urge the Federal Government to urgently intervene by stabilising fuel prices,” he said.
Another motorist in Kubwa, Stanley Okezie, said petrol was sold at N1,350 per litre in his area.
He said that the rising cost of fuel would lead to higher food prices.
Okezie said the increase in fuel prices would continue to make foodstuffs more expensive because traders would want to recover transportation costs and make a profit.
He called on the Federal Government to intervene and stabilise fuel prices to ease the economic burden on Nigerians.
Dr Aliyu Ilias, a development expert, also expressed concern over the hike in petrol prices, noting that the economic consequences were severe.
He called on the Federal Government to act swiftly and find a lasting solution to the increase in fuel prices, save Nigerians from the stress and make the product affordable for all.
Mr Chinedu Ukadike, the National Publicity Secretary of the Independent Petroleum Marketers Association of Nigeria (IPMAN), attributed the hike in petrol prices to series of adjustments by the refinery.
He said Dangote Refinery had increased its gantry price from N1,165 per litre to N1,185, and subsequently to N1,200 and N1,265 within the last one week.
Ukadike said marketers could not continue to sell petrol below the replacement cost.
He said the frequent price changes were creating uncertainty for both marketers and consumers.
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