PETROL MAY HIT ₦2,000 PER LITRE, DIESEL ₦3,000 AS GLOBAL OIL PRICES SURGE – PETROAN
The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has warned that petrol prices in Nigeria could reach ₦2,000 per litre, while diesel may climb to ₦3,000 per litre if the ongoing conflict in the Middle East continues to drive crude oil prices higher.The warning came from PETROAN’s National President, Billy Gillis-Harry, in a statement released on March 9, 2026. According to him, the surge in global crude prices above $100 per barrel is likely to impact domestic fuel prices, potentially worsening economic hardship for Nigerians.“PMS could rise close to ₦2,000 per litre, while AGO may approach ₦3,000 per litre if the situation persists,” Gillis-Harry said. “This would worsen inflation, increase transportation costs, lead to job losses, and push up prices of goods and services nationwide.”He further urged the Nigerian National Petroleum Company Limited (NNPCL) to activate operations in local refineries, especially the Port Harcourt Refinery (Area 5 Plant) and Warri Refinery, to mitigate the impact on domestic fuel supply.The warning comes as depot prices from Dangote Refinery have reportedly risen to ₦1,175 per litre, with other filling stations in Abuja and surrounding areas already selling between ₦1,082 and ₦1,100 per litre. This marks a sharp increase from ₦799 per litre before February 28, 2026, coinciding with the escalation of the war in the Gulf region.Petroan’s statement highlights concerns that continued price hikes could deepen inflation, increase transportation costs, and raise the prices of goods and services across Nigeria.
