Nigerians are once again grappling with a fresh increase in the pump price of Premium Motor Spirit (PMS), commonly known as petrol, following an upward review of the ex-depot price by Dangote Refinery and major petroleum depot operators across the country.
DAILY POST correspondents report that filling stations such as Empire Energy and Ranoil, particularly in Gwarimpa and other parts of Abuja, have swiftly adjusted their pump prices in response to the development. While prices previously ranged between ₦610 to ₦630 per litre, many stations are now selling between ₦670 and ₦690 per litre, depending on location and supplier.
Filling station attendants and depot operators attributed the hike to a recent change in ex-depot pricing — the cost at which petroleum marketers purchase fuel from depots. Sources close to Dangote Refinery revealed that logistical costs, forex volatility, and rising crude prices globally have all contributed to the current adjustment.
This development comes at a time when Nigerians are already battling soaring food prices, transportation costs, and electricity tariff hikes. The ripple effect of this increase is expected to further burden small businesses, commuters, and the informal sector, which heavily depends on petrol for daily operations.
Some motorists, speaking to FrontNaija News, expressed frustration, saying the government and relevant agencies have remained silent on regulatory oversight while the people continue to suffer.
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