Fuel price has risen to close to N1, 100 in Lagos, investigations yesterday by Sunday Telegraph revealed. It was discovered that some filling stations sold fuel ranging from N1,050, N1,057, N1, 020, N1,049, N1,064, N1,057 and N1,080 in some places in Ikorodu, Ketu, Ojota, Onipanu, Yaba, Ojuelegba, Mushin, Oshodi, Maryland, Ikeja, Agege, Berger, Ojodu, Iyana-Ipaja, Festac, Okokomaiko, Ajangbadi, Victoria Island, Ikoyi and Lekki.
It was also discovered that while some filling stations displayed their prices on their templates, many others did not. It was also found out that many petrol dispensing outlets closed and did not attend to fuel users.
The rise in fuel pump prices is not unconnected to the hike in gantry price by the Dangote Petroleum Refinery and Petrochemicals reportedly in response to the rising global crude prices.
The Dangote Petroleum Refinery and Petrochemicals had on Friday increased its fuel gantry price again to N995 per litre. It had on Monday hiked its gantry or ex-depot price for fuel by N101, from N774 it was selling during the Yuletide to N875 per litre On the other hand, global crude oil prices have gone up.
As of Friday, the prices of Murban crude, a key Middle Eastern benchmark traded at $99.60 per barrel; the International benchmark Brent crude traded above $88 per barrel in early trading, while the United States benchmark West Texas Intermediate rose to roughly $85.90 per barrel.
