Petrol nears ₦900 per litre, warning motorists of higher costs ahead. As global oil markets stay steady at around US $70 per barrel, Nigeria may soon see pump prices across filling stations reach this threshold. The hike comes as OPEC+ plans to boost oil production, potentially tightening supply and increasing import costs for the country.

📈 Why the Price Surge Is Looming

• Crude price pressure: With oil trading around $70 per barrel, import costs rise for local marketers.
• OPEC+ production strategy: Plans to increase global output may shift price volatility, impacting Nigerian fuel costs.

⚖️ Meanwhile: NNPCL Drops Petrol Prices

Just yesterday, NNPCL slashed pump prices at its filling stations, bringing the rate down to ₦900 per litre, from as high as ₦955. This comes after a brief spike earlier in the week. In Lagos, other station brands adjusted their rates to ₦890–₦895, creating pockets of relief.