Fuel prices have surged once again across major parts of Nigeria, with petrol now selling for as high as N955 per litre, DAILY POST reports.

A visit to several filling stations in Abuja on Friday revealed that independent marketers have hiked pump prices by N35 to N45 per litre. Empire Energy in Gwarimpa now sells at N955, up from N910. AA Rano and Eterna outlets have also raised prices to N935 per litre from previous rates between N900 and N905.

Speaking to DAILY POST, Abubakar Maigandi, National President of the Independent Petroleum Marketers Association of Nigeria (IPMAN), linked the spike to rising international crude oil prices.

“This is because of the change in crude oil prices, which has affected the domestic premium motor spirit price,” he explained. “You will see that there are changes in prices. Nevertheless, when the crude oil price comes down, the local petrol price will still reduce.”

Maigandi noted that IPMAN members often buy in smaller volumes, making them more sensitive to market shifts. “When our stock finishes, we source a new one, and additional prices have been added to fresh stocks. That’s why you are seeing new prices now,” he added. “The beautiful thing is that the product is available everywhere.”

Oil benchmarks like Brent Crude and West Texas Intermediate rose to $77.04 and $75 per barrel respectively this week, driven by tensions in the Middle East following fresh conflict between Israel and Iran.

This development adds more pressure on Nigerian consumers, who are already grappling with high living costs and economic uncertainty.