Nigerian filling stations increase fuel prices again

Nigerian filling stations have recently raised the prices of Premium Motor Spirit, or PMS fuel, at their petrol pumps. According to a market survey conducted by DAILY POST, prominent brands including MRS, Ranoil, and Empire Energy raised their pump prices to between N1,310 and N1,320 per litre, up from previous rates of N1,230 and N1,299 per litre. Consequently, these stations raised their prices by N20 to N80 per litre.

MRS increased its fuel price by a significant N80 per litre, while Ranoil raised its price by N45 per litre, and Empire Energy increased its price by N25 per litre. This comes after Dangote Refinery recently increased its gantry price by N65 per litre to N1,265 per litre, blaming the rise on import licences issued by the Nigerian Midstream and Downstream Petroleum Regulatory Authority.

The mega refinery, which accounts for 57 percent of the country's fuel supply market, has now threatened to stop selling petrol products to importers and marketers.