Petrol Price Rises to N970 Per Litre at Filling Stations in Nigeria

The price of petrol in Nigeria has surged to N970 per litre at filling stations, causing concern among consumers already struggling with rising living costs. The increase, reported in various parts of the country, has further intensified economic hardships for businesses and households dependent on fuel for daily activities.

The price hike follows ongoing fluctuations in the global oil market and the effects of subsidy removal, which have left petrol prices subject to market forces. Many Nigerians have expressed frustration over the rising cost of fuel, which is expected to trigger increases in transportation fares, food prices, and other essential goods and services.

Long queues have been observed at several fuel stations as consumers rush to buy petrol before further increases. Some independent marketers attribute the rise to supply challenges and high import costs, while others blame inconsistencies in distribution.

The federal government has yet to issue an official statement regarding the latest price increase. However, industry experts warn that unless measures are taken to stabilize fuel prices, inflation and economic difficulties could worsen in the coming months.