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Nigerians’ Woes Deepen As Petrol Hits N1,400/L

 


Nigerians’ Woes Deepen As Petrol Hits N1,400/L


The steady rise in the pump price of Premium Motor Spirit (PMS), commonly known as petrol, has intensified economic hardship across Nigeria, with prices climbing to nearly N1,400 per litre in several parts of the country, triggering widespread anxiety among transporters, commuters, and businesses.

Findings across major cities indicated that the latest surge, driven largely by rise in the price of crude oil, is shrinking incomes, inflating transport fares, and worsening the cost-of-living crisis for millions of Nigerians.

With the price of crude oil hitting almost $120 per barrel last week before settling at $112 over the weekend as the Middle East crisis rages, Dangote also adjusted its gantry price from N1,175 to N1,245 per litre. 

Visit: https://dailytrust.com/nigerians-woes-deepen-as-petrol-hits-n1400-l/ to read more. 

Source: DailyTrust 

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