Motorists in parts of Nigeria are paying higher prices for petrol as pump rates move towards N1,500 per litre, adding to the cost of transportation and daily business operations.

The current increases are being recorded amid renewed pressure in the international oil market, with crude prices now trading above $100 per barrel. The development is creating fresh cost pressures for fuel suppliers and other businesses within the petroleum sector.

According to Legit, Brent crude, Nigeria’s key international oil benchmark, settled at $106.37 per barrel on Tuesday, while West Texas Intermediate rose to $102.90. The crude-price surge could further affect the cost of petroleum products if the trend persists.

The impact is also being felt beyond filling stations, as businesses that rely on petrol-powered generators face the prospect of higher operating expenses. Transport operators and other petrol-dependent businesses could equally see increased running costs.

Major suppliers, including NNPC and MRS, have already adjusted their pump prices, with rates differing across the country depending on prevailing supply and market conditions. Further movements in international crude prices are expected to remain a key factor in the direction of petrol prices in the domestic market.