Fuel pain deepens as petrol nears N1,500/L

Petrol prices have risen to as high as N1,460 per litre across parts of Nigeria after Dangote Refinery increased its ex-gantry price by N85 to N1,350, Daily Trust reports.

The 6.7 per cent increase has triggered fresh pump-price adjustments, with motorists in Abuja, Kano, Lagos, Ibadan and Port Harcourt facing higher costs. MRS, NIPCO, Mobil and other marketers raised prices, while petrol reached N1,400 in Ibadan and Port Harcourt.

The development follows a rise in Brent crude to above $104 per barrel amid the US-Iran conflict. Commercial drivers warned that higher fuel costs could trigger further transport fare increases and worsen pressure on consumers.