Fuel and Diesel Prices May Climb to N2,000 and N3,000 Per Litre — PETROAN Raises Alarm
Ayo Marvel 
The Petroleum Products Retail Outlets Owners Association of Nigeria said that Nigerians are to face intensifying hardship as petrol and diesel prices may hit N2000 and N3000 per liter amid the ongoing war in the Middle East.
The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has called on the Nigerian National Petroleum Company Limited (NNPC Ltd.) to strengthen local refining capacity to protect the country from global fuel market shocks.
He said with crude oil prices at above $100 per liter on Monday, the domestic prices of petrol and diesel may double in the coming days.
PETROAN President Billy Gillis-Harry made the appeal Monday during a keynote address at Ignatius Ajuru University of Education.
He said ongoing tensions involving Israel, the US, and Iran have pushed global petroleum prices to worrying levels, disrupting supply chains.
He noted that Premium Motor Spirit (PMS) has risen from ₦774 to over ₦1,000 per litre, while diesel, or Automotive Gas Oil (AGO), has jumped from ₦950 to ₦1,400. Gillis-Harry warned that without local refinery operations, PMS could reach ₦2,000 and AGO nearly ₦3,000 per litre.
The PETROAN president urged NNPC to restart government-owned refineries, including the Area 5 Plant in Port Harcourt and the Warri Refinery.
He also commended President Bola Ahmed Tinubu for oil and gas sector reforms, stressing that boosting local refining is key to stabilizing fuel supply and curbing inflation.
Meanwhile, NNPCL, MRS, AA Rano, and others as of the time of filing the report are dispensing between N1082 per liter and N1100 in Abuja and environs; however, the price is expected to increase following Dangote’s latest N1,175 per liter.
About the Author
Emmanuel Femi Adedayo 
Ademola Busayo 