{"id":72102,"date":"2025-08-05T11:17:51","date_gmt":"2025-08-05T11:17:51","guid":{"rendered":"https:\/\/abujacityjournal.com\/livenews\/?p=72102"},"modified":"2025-08-05T11:17:51","modified_gmt":"2025-08-05T11:17:51","slug":"fuel-price-hike-nigerians-groan-as-petrol-nears-%e2%82%a61000-litre","status":"publish","type":"post","link":"https:\/\/abujacityjournal.com\/livenews\/2025\/08\/05\/fuel-price-hike-nigerians-groan-as-petrol-nears-%e2%82%a61000-litre\/","title":{"rendered":"Fuel Price Hike: Nigerians Groan as Petrol Nears \u20a61,000\/Litre"},"content":{"rendered":"

By Onilede Titi Faith<\/strong><\/p>\n

Petrol prices across Nigeria have surged to new highs, with pump prices nearing \u20a61,000 per litre in several states, deepening hardship for millions and sparking fresh tensions between marketers and fuel station owners.<\/p>\n

In Abuja, Nasarawa, and Kogi, Nigerian National Petroleum Company Limited (NNPCL) stations recently raised prices from \u20a6890 to \u20a6955 per litre.<\/p>\n

Independent marketers like Ranoil, Empire Energy, AA Rano, and Shema are now selling as high as \u20a6971 per litre.<\/p>\n

The hike comes despite falling global crude prices and a strengthening naira, leaving many Nigerians baffled and burdened, as transport fares and the cost of goods soar amid persistent inflation.<\/p>\n

Stakeholders are divided over the cause. The Independent Petroleum Marketers Association of Nigeria (IPMAN), blames unstable forex rates, costly logistics, and high landing prices.<\/p>\n

They say most marketers still rely on the parallel market for dollars due to limited access to official exchange channels, inflating import costs.<\/p>\n

But the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN), accuses marketers of price manipulation.<\/p>\n

They allege product hoarding and refusal to adjust to recent cuts in ex-depot prices, which could allow retail prices to drop.<\/p>\n

\u201cThe current pricing does not reflect market realities,\u201d a PETROAN official said. \u201cMany are simply profiteering at the expense of ordinary Nigerians.\u201d<\/p>\n

Meanwhile, long queues have resurfaced at petrol stations, and commuters now pay nearly double for short trips.<\/p>\n

Civil society groups and labour unions have begun pressing the federal government for urgent intervention, either through subsidies or temporary price regulation.<\/p>\n

Analysts warn that without clear policy action to stabilize supply and curb excesses in the fuel market, the price of petrol could exceed \u20a61,000 per litre nationwide before the end of August.<\/p>\n

While tensions in the Middle East, especially between Israel and Iran, have added pressure to global oil speculation, experts insist domestic factors remain the key drivers of the current spike.<\/p>\n

Despite mounting public outcry, the federal government has reiterated its commitment to deregulation and market-driven pricing, leaving consumers caught between economic hardship and uncertainty.<\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

By Onilede Titi Faith Petrol prices across Nigeria have surged to new highs, with pump prices nearing \u20a61,000 per litre in several states, deepening hardship for millions and sparking fresh tensions between marketers and fuel station owners. In Abuja, Nasarawa, and Kogi, Nigerian National Petroleum Company Limited (NNPCL) stations recently raised prices from \u20a6890 to […]<\/p>\n","protected":false},"author":32,"featured_media":72103,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[172],"tags":[59],"class_list":["post-72102","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-featured"],"aioseo_notices":[],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/72102","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/users\/32"}],"replies":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/comments?post=72102"}],"version-history":[{"count":1,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/72102\/revisions"}],"predecessor-version":[{"id":72104,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/72102\/revisions\/72104"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/media\/72103"}],"wp:attachment":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/media?parent=72102"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/categories?post=72102"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/tags?post=72102"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}