Petrol price hike looms as PMS landing cost hits ₦1,311

Fresh pressure is mounting on petrol prices as Premium Motor Spirit landing cost rose to ₦1,311.36 per litre, exceeding Dangote Refinery’s ₦1,265 gantry price by ₦46.36.

According to Nigerian Tribune, the Major Energy Marketers Association of Nigeria reported that the landing cost increased from a 30-day average of ₦1,216.34 as Brent crude climbed to about $105 per barrel.

Most Lagos filling stations were selling between ₦1,290 and ₦1,310, although some charged more. Industry watchers warned that sustained international oil price increases could trigger another pump-price adjustment if the pressure persists.