The Nigerian Nationwide Petroleum Firm Restricted (NNPCL) has raised the worth of petrol, which can be known as Premium Motor Spirit, to N990 per liter in Abuja and N960 per liter in Lagos.
This new value began on Tuesday and is because of modifications within the world oil market.
Costs at totally different stations fluctuate. In Abuja, some locations now cost as much as N1,000 per liter. In Akwa Ibom, the worth has gone as much as N1,100 per liter.
Individuals who drive for a dwelling, like tricycle drivers in Lagos, are upset as a result of the upper costs are making it laborious for them to earn cash.
They are saying, “We thought they needed to decrease the worth, however it retains going up.”
Olatide Jeremiah, an skilled in oil and fuel, mentioned that the modifications in value are because of the manner the oil market works and due to worldwide politics, like previous sanctions on Russia.
Earlier within the week, the worth of oil dropped a bit, however it went again up barely to $80.05 per barrel.
The brand new Dangote Refinery has additionally affected costs as a result of it began promoting petrol at N955 per liter, which modified the costs at different depots and stations.
There at the moment are lengthy traces at fuel stations as individuals rush to purchase petrol on the previous costs earlier than they go up much more.
This enhance in costs is making it robust for drivers, as they’ll’t carry as many passengers and their earnings are happening.
