Residents of Calabar, Cross River State, are alarmed by a sudden rise in petrol prices, which have climbed to between N1,450 and N1,500 a litre. This increase was highlighted during a survey conducted by the News Agency of Nigeria (NAN) on Tuesday.
NAN found that several fuel stations in the Calabar area have adjusted their prices accordingly. Mary Ubong, an official at a major petrol station, explained that the hike is due to a wholesale price increase of about N85 per litre, which necessitated a corresponding adjustment at the retail level.
“The increase is a reflection of wholesale prices, not something caused by retailers,” she clarified, adding that petrol prices were already high at N1,300 and this new rise would worsen the financial strain on residents.
Another petrol station worker, Timothy Adama, expressed confusion over the ongoing price increases, pointing out that Nigeria has ample crude oil resources and such prices should not be unattainable for ordinary citizens. He urged authorities to manage resources better to alleviate the citizens’ suffering.
Businesswoman Rita Johnson noted that the rising petrol prices are directly impacting her production costs. She mentioned that the price of a bowl of ‘tigernut’ has surged from N600-N700 to N1,500, making it increasingly difficult to operate.
The recent pump price hikes are reportedly linked to an adjustment made by Dangote Refinery on September 12, which raised wholesale petrol prices from N1,265 to N1,350 per litre, an increase of around 6.7 per cent. This change has also resulted in a rise in transportation costs and the price of essential goods.
