Commodities
Nigeria's Petrol Prices Soar Past N1,400 Per Litre Amid Crude Oil Rally
Petrol prices in Nigeria have surged to over N1,400 per litre following a rise in international crude oil prices. The Brent crude price climbed above $100 per barrel and reached $107 per barrel on Thursday.
The increase in domestic fuel prices is the latest in a series of adjustments made by retail outlets across major Nigerian cities. In Lagos, most filling stations are selling petrol between N1,400 and N1,430 per litre, while MRS stations sold at N1,395 per litre.
Nigerians fear that petrol prices could rise further, with some predicting that pump prices may reach N1,500 per litre by Monday. The prediction was made after Dangote Petroleum Refinery increased its PMS gantry price by N85 per litre.