Nigerians buy petrol at N1440 per liter as NNPCL, others increase fuel price.

Petrol prices have surged across Nigeria, with many filling stations now selling fuel between N1,364 and N1,444 per litre, reflecting the growing influence of rising global crude oil prices on the local market.

Major marketers, including Nigerian National Petroleum Company Limited, MRS, BOVAS, AP (Ardova), and Mobil, have adjusted their pump prices to around N1,364 to N1,370 per litre. Other outlets such as AA Rano, Emedab, Empire Energy, and Ranoil are dispensing at higher rates, ranging from N1,370 to N1,440 per litre.

This represents a sharp increase from the roughly N900 per litre recorded in February 2026.

The latest hike follows a recent adjustment in gantry and ex-depot prices by the Dangote Refinery and depot operators, who cited a surge in global crude oil prices as the reason for the increase.

Crude oil benchmarks have risen significantly, with Brent and West Texas Intermediate (WTI) trading at about $111 and $105 per barrel, respectively. The rise has been linked to ongoing geopolitical tensions involving Iran, the United States, and Israel, as well as increased volatility in the global oil market.

According to the Independent Petroleum Marketers Association of Nigeria, the fluctuation in global oil prices continues to have a direct impact on domestic fuel costs, despite efforts to stabilise supply locally.

The persistent rise in petrol prices has heightened concerns among Nigerians, with growing calls for government intervention as the cost of living continues to climb. The situation comes at a time when workers are marking May Day, amid ongoing economic pressures and a minimum wage of N70,000, with fuel prices approaching N1,500 per litre.