Workers’ Day Shock: Nigerians Buy Petrol at N1,440/Litre as Fuel Prices Surge Nationwide
Findings obtained by PulseNets late Thursday revealed that leading marketers, including NNPCL, MRS, BOVAS, AP (Ardova), and Mobil, have revised their pump prices to a band of N1,364 to N1,370 per litre.
Further checks reported by PulseNets show that independent outlets such as AA Rano, Emedab, Empire Energy, and Ranoil are dispensing petrol at even higher rates, ranging from N1,370 to N1,440 per litre.
This latest pricing trend represents a sharp escalation from the approximate N900 per litre recorded in February 2026, highlighting the rapid pace of fuel cost inflation within a short period.
The upward adjustment follows closely on the heels of a price review by Dangote Refinery and depot operators, who increased gantry and ex-depot prices to N1,275 and N1,320 per litre respectively. Industry sources told PulseNets that the adjustment was driven primarily by the sustained rise in global crude oil prices.
Market data reviewed Friday morning showed that Brent crude climbed to $111 per barrel, while West Texas Intermediate (WTI) reached $105 per barrel. Energy analysts who spoke to PulseNets linked the rally to escalating geopolitical tensions involving Iran, the United States, and Israel across the Middle East.
The pressure on global oil markets has been further intensified by the recent withdrawal of the United Arab Emirates from OPEC, a move that has introduced additional uncertainty into global supply dynamics.
Reacting to the development, the spokesperson of the Independent Petroleum Marketers Association of Nigeria, Chinedu Ukadike, acknowledged the direct transmission of global price shocks into Nigeria’s downstream sector.
“Though Dangote Refinery has helped cushion the impact, global crude oil price volatility is impacting the domestic market,” he said.
Also Read: Oil Prices Hit $112 as Iran-US-Israel War Escalates, Nigeria Petrol Prices Surge Above N1,400
The persistent rise in petrol prices has renewed calls for immediate government intervention, as households and businesses continue to face mounting economic pressure.
The situation is unfolding at a sensitive moment, coinciding with May Day celebrations, where workers are contending with a N70,000 minimum wage that is increasingly eroded by inflation, as fuel prices edge closer to the N1,500 per litre threshold.
