The pump price of Premium Motor Spirit (petrol) may rise to N1,000 per litre in the coming days due to the surge in crude oil prices on the international market. The increase in petrol prices came at a time when the Dangote Petroleum Refinery raised petrol prices from N739 to N839. Ukadike mentioned that petrol could hit N1,000 per litre if the crude price surge continues, especially in locations far from fuel depots. The price of petroleum products will come down if the crude price goes down, that’s the common principle of the market,” Ukadike said, admitting that the price of petrol may rise to N1,000, especially “in some other places that are not closer to the refinery or depots. With the increase in petrol prices, Ukadike said sales are becoming slow compared to the December festive period.

Source: Punch January 31, 2026 04:53 UTC