Petrol Price Rises To N935 Per Litre | Details

Nigerians are now paying more for petrol after the price increased to between N925 and N935 per litre at various filling stations.

This is as petrol marketers across Lagos increased pump prices over the weekend.

This price surge follows a rise in the landing cost of petrol, the suspension of naira payments by Dangote Refinery for fuel sales, and delays in negotiations over the naira-for-crude policy.

As of last Monday, the landing cost of petrol jumped to N843.28 per litre, up from N797 per litre two weeks prior—an increase of N46 per litre.

At some filling stations, Total Energies sold petrol at N935 per litre, while MRS offered it at N925 per litre.

READ ALSO: Dangote Refinery Warns Of Fresh Fuel Price Hike, Halts Sale Of Petrol In Naira

This comes after Dangote Refinery announced the temporary suspension of the sales of petroleum products in Naira.

The refinery said the decision to halt the deal was necessary to avoid a mismatch between its sales proceeds and crude purchase obligations.

They added that the sales of petroleum products in Naira have exceeded the value of received Naira-denominated crude.