Petrol prices across Nigeria have increased to between N1,050 and N1,150 per litre.

This increase follows a price adjustment by Dangote Refinery, which raised its rates from N899 to N955 per litre for bulk purchases.

Private depots nationwide have also raised their prices, with some locations now charging over N1,000 per litre for Premium Motor Spirit (PMS).

Oil marketers explained that the hike is primarily due to rising crude oil prices, which recently climbed to $81.84 per barrel, the highest in 2025.

Deregulation of the petroleum sector and logistics costs have further contributed to the price surge.

Areas far from depots, such as the hinterlands, are experiencing the steepest prices, with some regions reporting costs of up to N1,150 per litre.

Private depots in Lagos and Calabar have also adjusted their loading costs.

For instance, Sahara and Pinnacle depots raised prices to N970 per litre, while Rainoil and Alkanes in Calabar now charge N1,000 per litre.

Retail stations are adding logistics and regulatory charges to their prices, pushing the pump rates higher for consumers.

Marketers predict that prices will continue to rise due to the global increase in crude oil costs.

With deregulation in place, the industry relies on demand and supply dynamics, making fluctuations inevitable.

Experts warn that this trend will significantly impact consumers and businesses across the country.

The Independent Petroleum Marketers Association of Nigeria (IPMAN) has refuted circulating rumors of an impending increase in petrol prices nationwide.

The association assured the public that local refineries are now operational, a development that will contribute to a reduction in fuel prices.

In an interview with the Voice of America, Bashir Salisu Tahir, Chairman of IPMAN’s Northwest Chapter, dismissed claims of any plans to hike petrol prices.

He emphasized that none of their members had increased the price of petrol across the country.

Tahir explained, “The market now determines prices, and there is no truth to the rumors of an increase in petrol prices. While diesel prices have risen recently due to market dynamics, they will naturally fall when market conditions improve.”

He added that the resumption of operations at the nation’s refineries is expected to further stabilize and reduce petrol prices.

Beijing on Wednesday said it “firmly opposes” a US move to effectively bar Chinese technology from smart cars in the American market, saying alleged risks to national security were “without any factual basis”.

“Such actions disrupt economic and commercial cooperation between enterprises… and represent typical protectionism and economic coercion,” foreign ministry spokesman Guo Jiakun said, adding: “China firmly opposes this.”

Tuesday’s announcement in the United States, which also pertains to Russian technology, came as outgoing President Joe Biden wrapped up efforts to step up curbs on China, and after a months-long regulatory process.

The rule follows an announcement this month that Washington is mulling new restrictions to address risks posed by drones with tech from adversaries such as China and Russia.

US Commerce Secretary Gina Raimondo said that modern vehicles contain cameras, microphones, GPS tracking and other technologies connected to the internet.

“Cars today aren’t just steel on wheels — they’re computers,” she said.

“This is a targeted approach to ensure we keep PRC and Russian-manufactured technologies off American roads,” she added, referring to the People’s Republic of China.

But Guo slammed the move, telling journalists in Beijing that China would “take necessary measures” to safeguard its legitimate rights and interests.

“What I want to say is that the US, citing so-called national security, has restricted the use of Chinese connected vehicle software, hardware, and entire vehicles in the United States without any factual basis,” he told a regular press conference.

“China urges the US to stop the erroneous practice of overgeneralising national security and to stop its unreasonable suppression of Chinese companies.”

‘Trying to dominate’

The final US rule currently applies just to passenger vehicles under 10,001 pounds (about 4.5 tonnes), the Commerce Department said.

It plans, however, to issue separate rulemaking aimed at tech in commercial vehicles like trucks and buses “in the near future”.

For now, Chinese electric vehicle manufacturer BYD, for example, has a facility in California producing buses and other vehicles.

National Economic Advisor Lael Brainard added that “China is trying to dominate the future of the auto industry”.

But she said connected vehicles containing software and hardware systems linked to foreign rivals could result in misuse of sensitive data or interference.

Under the latest rule, even if a passenger car were US-made, manufacturers with “a sufficient nexus” to China or Russia would not be allowed to sell such new vehicles incorporating hardware and software for external connectivity and autonomous driving.

This prohibition on sales takes effect for model year 2027, and also bans the import of the hardware and software if they are linked to Beijing or Moscow.