Fuel prices jump to N1,440/liter as NNPCL, others raise rates ahead of May Day
Earlier today, DAILY POST reported that petrol prices across Nigeria have surged, with major marketers NNPCL, MRS, BOVAS, AP (Ardova) and Mobil setting pump prices between N1,364 and N1,370 per liter. Other outlets such as AA Rano, Emedab, Empire Energy and Ranoil are selling fuel at N1,370 to N1,440 per liter. This follows Dangote Refinery raising its gantry and ex-depot prices to N1,275 and N1,320 per liter respectively, and global crude oil benchmarks climbing to Brent $111 and WTI $105 per barrel amid Middle East tensions and the UAE's exit from OPEC. The increase marks a steep rise from around N900 per liter recorded in February 2026, representing roughly a 60% jump. With the national minimum wage at N70,000, transport costs now consume a larger share of household incomes, worsening the cost of living as workers mark May Day. The price spike has intensified public calls for urgent government intervention to cushion the impact on citizens. Consumers facing the higher fuel costs may consider adjusting travel plans, using public transport, carpooling, or negotiating remote work arrangements where possible. Monitoring official announcements for potential subsidies, price caps or relief measures could also help mitigate the financial strain.