Petrol prices have reportedly surged to as high as ₦1,400 per litre in some parts of Nigeria, sparking fresh concerns over the rising cost of living, Peak Newspaper reports.
The increase is said to be driven by ongoing fluctuations in the downstream oil sector, including supply challenges, transportation costs, and changes in market dynamics. In several locations, motorists are already feeling the impact as fuel becomes more expensive and harder to access at previous rates.
The rising cost of petrol is likely to have a ripple effect across the economy, affecting transportation fares, food prices, and the general cost of goods and services. Many Nigerians are expressing concern over the continued upward trend, calling for urgent interventions to stabilize fuel prices.
As prices vary across different regions, many Nigerians are bracing for further increases if the current trend persists.
