Nigeria people don wake up to another petrol price shock as Dangote Petroleum Refinery don increase the gantry price of Premium Motor Spirit (petrol) to N1,175 per litre. Na the third time within one week wey the price don climb, and e don make many Nigerians begin ask whether petrol dey do high-jump competition.
The refinery say the adjustment na because market condition dey unstable and the cost to replace petrol don increase. But for many Nigerians, the big question be: how person go survive when petrol price dey rise faster than salary?
Below na the full Gbas-Gbos breakdown of the latest petrol wahala.
Petrol Price Don Jump Again Like Athlete
The latest increase show say petrol price don move from N995 per litre reach N1,175 per litre, meaning say N180 don join the price within just three days. If person check am well, na about 18 percent increase within short time.
Before this new change, Nigerians already dey struggle after the refinery first push petrol price from N774 per litre go N995 per litre earlier in the week. Now with the new N1,175 gantry price, marketers and depot owners go likely adjust pump prices again.
For some states already, petrol pump price don begin approach N1,200 per litre, and many drivers say if e continue like this, them go soon begin treat their car like museum item — just park am look.
Dangote Petroleum Refinery Talk Say Market Condition Na The Problem
Senior official from Dangote Petroleum Refinery confirm say the new price don already reach marketers and depot operators. According to the refinery, the change no be joke matter but result of volatile market conditions and the rising cost to replace fuel.
In simple terms, when the global market shake small, the cost to bring fuel or produce am fit increase, and that one go reflect for price. The refinery also adjust diesel price, which now stand around N1,620 per litre.
Even though the refinery say the adjustment na business reality, many Nigerians still dey wonder why the price dey change like football scoreline during Champions League match.
Dangote Petroleum Refinery: Transport Fare and Market Price Fit Rise Again
Economic analysts don warn say the petrol price hike fit trigger another round of transportation and production cost increase across Nigeria. Once fuel price climb, transport fare dey usually follow am run marathon.
Traders and small business owners also dey fear say the increase fit push the price of goods and services higher. From foodstuff to logistics and manufacturing, petrol price dey influence almost everything for the economy.
For everyday Nigerians, the situation simply mean say living cost fit rise again, and people don begin joke say soon petrol go need installment payment plan — because the way the price dey go up, e no dey smile at all.
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