N1,500/Litre: New Petrol Prices Emerges Nationwide as NNPC, MRS, Others Announce New Rates

• Petrol prices are nearing N1,500 per litre as crude oil climbs above $100, intensifying pressure on Nigerian consumers
• Dangote Refinery’s ex-depot price increase is pushing retail petrol costs higher across Abuja, Lagos and other filling stations
• Rising diesel and petrol expenses are squeezing businesses, threatening higher transport fares, production costs and consumer prices

Pascal Oparada is a journalist with Legit.ng, covering technology, energy, stocks, investment, and the economy for over a decade.

Nigerian households and businesses are facing another squeeze as petrol prices climb toward N1,500 per litre in parts of the country, driven by a renewed surge in global crude oil prices.

The latest increases are filtering through filling stations after crude prices jumped above $100 per barrel, raising production and import costs across the downstream petroleum market.

Brent crude, the benchmark against which Nigeria’s oil exports are priced, settled at $106.37 per barrel on Tuesday, while West Texas Intermediate rose to $102.90.

The rally has put fresh pressure on fuel suppliers and businesses already struggling with high energy costs.

Dangote price increase hits filling stations

Dangote Petroleum Refinery recently raised its ex-depot petrol price to N1,350 per litre, an adjustment that has begun to be reflected at retail outlets.

Motorists in Abuja are paying around N1,400 per litre at some stations, while prices in Lagos hover around N1,350, depending on the marketer and location.

Price checks also showed FVB selling petrol at N1,350 per litre, while TotalEnergies' Apapa station quoted N1,310 as of September 13.

Diesel prices remain elevated, with Northwest Petroleum's Mega Station and Eterna Filling Station selling automotive gas oil at about N1,890 per litre.

The increases mean consumers could face higher transport fares and commodity prices if energy costs continue rising.

Businesses battle soaring energy bills

For businesses, the consequences extend beyond transportation.

Many Nigerian companies rely heavily on petrol and diesel generators because of unreliable electricity supply, making every increase in fuel prices an immediate operating expense.

Nigerian Exchange Group data showed that several major listed companies recorded sharply higher energy costs during the first half of 2026.

BUA Cement, for example, spent about N135.5 billion on energy between January and June, six per cent higher than during the corresponding period of 2025.

Hospitality, manufacturing and food businesses are particularly vulnerable because many cannot significantly reduce electricity consumption without disrupting operations.

Kelvin Okechukwu, chief executive of a hospitality company, said diesel accounts for about half of his company's expenses, with hotels without solar installations facing an even heavier burden.

Consumers could pay the final price

Manufacturers are also spending heavily to keep their factories running, according to a BusinessDay report.

According to Manufacturers Association of Nigeria Director-General Segun Ajayi-Kadir, manufacturers spent approximately N1.34 trillion on alternative energy in 2025, up from N1.11 trillion in 2024.

The money went largely into diesel, gas and petrol as companies sought alternatives to unreliable grid electricity.

For consumers, the concern is that businesses may eventually transfer much of the additional cost to customers through higher prices.

With Brent crude approaching $110 per barrel, another sustained rise in international oil prices could keep pressure on Nigeria's petrol market, leaving motorists, manufacturers and households bracing for further increases.

FG to probe petrol pricing across Nigeria

Legit.ng earlier reported that Nigeria's federal government is moving to tighten oversight of petrol pricing after filling stations in several parts of the country raised pump prices following a price adjustment by Dangote Petroleum Refinery.

The refinery increased its Premium Motor Spirit ex-gantry price from N1,265 to N1,350 per litre, a rise of N85 or about 6.7%, citing higher international crude oil prices.