Petrol prices have risen across several parts of Nigeria, with motorists now paying as much as N1,230 per litre at some filling stations following the Dangote Petroleum Refinery’s decision to sell fuel to marketers in US dollars.

The latest increase has also been linked to the recent surge in global crude oil prices triggered by renewed tensions between the United States and Iran, which has pushed up the cost of petroleum products.

The Petroleum Products Retail Outlets Owners Association of Nigeria warned against allowing a single player to determine fuel prices, saying a competitive market is necessary to ensure price stability and protect consumers from arbitrary increases.

Although reports emerged that petrol loading at the Dangote refinery had been delayed, the company denied suspending operations, insisting that product loading had continued as normal.

Across private depots, petrol loading prices remained high, ranging between N1,185 and N1,245 per litre, reflecting continued uncertainty in the downstream petroleum sector. Industry observers attributed the price differences to supply costs, logistics and inventory levels.

The increase has already affected retail outlets nationwide. In Abuja, pump prices ranged from N1,118 to N1,200 per litre, while some filling stations in Kaduna and Sokoto sold petrol for N1,230 per litre. Motorists in Port Harcourt paid about N1,200 per litre, while prices in Enugu ranged between N1,100 and N1,220 per litre.

In Ondo, Kwara and Edo states, petrol sold between N1,100 and N1,200 per litre, although fuel remained available at most filling stations visited.

Despite the latest increase, there were no widespread reports of panic buying, as most outlets continued to dispense fuel normally.

Commercial transport operators, however, expressed concern over the rising cost of petrol, saying the persistent increase has significantly reduced their profits and may force them to raise transport fares if prices continue to climb.