Petrol Price Hikes Spark Financial Pressure for Nigerian Motorists
Nigerian motorists are facing financial pressure due to a significant hike in petrol prices. The increase comes as global oil prices surged, with Brent crude trading at $90.35 per barrel and West Texas Intermediate crude at $85.35 per barrel.
Dangote Refinery increased its gantry price from N1,165 per litre to N1,265 per litre within a week. Filling stations across the Federal Capital Territory have raised their petrol prices accordingly.
Some motorists in Abuja expressed concern over the high pump price of petrol. Olusegun Abbas, who bought petrol at N1,320 per litre, lamented the growing financial pressure on livelihoods caused by soaring fuel prices.
A development expert, Aliyu Ilias, also expressed concern over the petrol price hike, noting that the economic consequences were severe. He called on the federal government to act swiftly and find a lasting solution to the fuel price increase.