Fuel stations across Lagos and surrounding areas have increased the price of Premium Motor Spirit (PMS), commonly called petrol, to between N930 and N970 per litre, up from the previous N865 per litre rate.

On Sunday morning, BusinessDay observed that numerous filling stations throughout Lagos had adjusted their pump prices upward. Concurrently, depot prices rose to between N890 and N900 per litre, marking an increase from below N850 per litre just two weeks ago.

Industry experts attribute this price hike to recently reported increases in petrol landing costs, which oil marketers say have jumped by N88 per litre in a single week, alongside growing import volumes.

BusinessDay confirmed an AP filling station on Admiralty Road in Lekki Phase 1 selling fuel at N930 per litre, while other Lagos outlets priced petrol between N930 and N935 per litre. Further afield, stations in Abuja and Magboro, Ogun State have set prices between N960 and N970 per litre.

This represents the first petrol price increase of 2025, following several price reductions earlier in the year during heightened competition between the Nigerian National Petroleum Company (NNPC) Limited and Dangote Refinery.​​​​​​​​​​​​​​​​