Nigerians might soon see an increase in petrol prices. Oil marketers are raising concerns due to the rising cost of crude oil, which has hit around $78 per barrel. This situation could lead to more challenges for people who rely on petrol for their daily needs.

Billy Gillis-Harry, the President of the Petroleum Products Retail Outlets Owners Association (PETROAN), shared these insights in an interview. He mentioned that pump prices currently range from N950 to N1,150 per litre across the country.

“The price of petroleum products will go up with the Iran and Israel conflict escalation in the Middle East, not only in Nigeria but globally. That is already a known principle.”

This warning comes even after the Dangote Refinery started distributing petrol on September 15, 2024. The ongoing conflicts in the Middle East, especially between Israel and Iran, are also contributing to worries about rising prices.

Additionally, the Nigerian National Petroleum Company Limited has recently announced a new petrol price after sourcing fuel from the Dangote Refinery. As the situation develops, Nigerians may need to prepare for potential increases in fuel costs in the near future.