Petrol prices have increased across several filling stations in Abuja, Lagos and Ibadan following fresh adjustments linked to higher crude oil prices and rising supply costs amid escalating tensions in the Middle East.follwong the US and Israel war on Iran.
A drive around at the weekend showed that some filling stations in the Federal Capital Territory raised their pump prices to as high as N1,450 per litre.
AY Shafa increased its price from N1,350 to N1,395 per litre, while Optima adjusted its price from N1,360 to N1,450. Empire filling station in Gwarinpa also raised its price from N1,370 to N1,450.
Mobil outlet in Kubwa increased its pump price from N1,350 to N1,400 per litre.
The price increases were also recorded in Lagos. Conoil at Ikorodu Garage raised its price from N1,300 last week to N1,400 per litre.
An NNPC filling station at Berger increased its price from N1,299 to N1,380, while Bovas in Berger moved from N1,280 to N1,400.
MRS in Okota now sells petrol at N1,395 per litre, up from N1,310, while TotalEnergies in the area increased its price from N1,325 to N1,385. AP at Ogba also raised its price from N1,295 to N1,380.
In Ibadan, Ocean Breeze filling station on Old Ife Road increased its price from N1,300 on Saturday to N1,370 per litre.
The latest adjustments followed reported increases in ex-depot prices. Dangote Refinery, for instance, raised its gantry price from N1,265 to N1,350 per litre.
The development also coincided with a surge in international crude oil prices, with Brent crude trading at about $104 per barrel and West Texas Intermediate at $99 as of September 13.
The rise in crude prices has been linked to heightened tensions in the Middle East, particularly disruptions and threats around the Strait of Hormuz, a major global oil shipping route.
Saudi Arabia recently issued emergency alerts in two areas following explosions heard off the coast of Iran’s Qeshm Island.
The tensions have also involved attacks on oil tankers, US military bases and energy infrastructure in the Gulf region.
On September 8, Saudi Arabia said attacks by Yemen’s Iran-aligned Houthi fighters on energy facilities in its southern region caused fires and temporarily disrupted some operations.
The Houthis also launched ballistic missiles and drone attacks on Abha, Khamis Mushait and Jazan, reportedly injuring 73 people.
The United States has meanwhile maintained its blockade of Iranian ports, with reports that dozens of vessels attempting to breach the blockade have been turned back. /With additional reports from TC