Long queues have begun forming at filling stations across parts of Nigeria, particularly in Lagos, as petrol prices climb above ₦1,000 per litre in several retail outlets.
A market survey across Lagos showed motorists lining up at stations still selling below the ₦1,000 threshold, while many other marketers have already adjusted pump prices above that level.
Motorists Rush to Cheaper Stations
The queues are most visible at filling stations offering relatively lower prices, where drivers are rushing to buy fuel before further increases take effect.
For instance, MRS filling stations along the Lagos–Ibadan Expressway were selling petrol at around ₦937 per litre, attracting large crowds of motorists searching for cheaper supply.
Meanwhile, several other marketers have already increased their pump prices:
- Eterna Plc: about ₦1,040 per litre
- North West Petroleum and Fatgbems: around ₦1,030 per litre
- Mobil stations: roughly ₦1,025 per litre
- NNPC retail outlets: about ₦1,050 per litre in some locations
In some cases, stations were temporarily shut or not dispensing fuel, further intensifying the queues.
Dangote Refinery Price Increase Triggers Market Adjustment
The recent price spike follows an increase in the ex-depot price of petrol by the Dangote Petroleum Refinery, which raised the cost from ₦774 to ₦874 per litre earlier in the week.
That ₦100 increase at the depot level has started reflecting across retail outlets nationwide, pushing pump prices higher.
Global Oil Price Surge Adds Pressure
Analysts also point to rising global crude oil prices as a key factor driving the increase.
Crude prices have surged amid escalating geopolitical tensions in the Middle East, pushing energy costs higher worldwide and raising concerns about disruptions to oil supply.
Economists warn that higher crude prices typically translate into increased costs for refined products such as petrol, diesel, and aviation fuel.
According to energy economist Paul Alaje, the trend could push petrol prices further upward if global oil markets remain volatile.
Implications for Nigerians
The development is already affecting transportation costs and daily living expenses.
In some cities, petrol prices have reportedly reached ₦1,100 to ₦1,200 per litre, leading to higher transport fares and renewed pressure on household budgets.
With Nigeria’s downstream sector now largely deregulated, pump prices are expected to continue fluctuating in response to global oil markets, exchange rates, and supply dynamics.
