Petrol hits ₦1,532, gas at ₦1,800: 5 ways rising energy costs are making life harder for Nigerians
Petrol now costs between ₦1,340 and ₦1,532 per litre, while the prices of cooking gas, diesel, and kerosene have also increased significantly.
Higher fuel costs may lead to increased transport fares, food prices, and operating costs for businesses across Nigeria.
From cooking and commuting to powering generators, Nigerians may have to spend more on essential daily needs as the cost-of-living crisis deepens.
For many Nigerians, surviving the current economic climate has become a daily struggle.
Just when households and businesses were beginning to adjust to previous increases in fuel costs, fresh energy prices are threatening to put even more pressure on already stretched budgets.
In parts of the country, petrol has climbed to as high as ₦1,532 per litre, while cooking gas now sells for between ₦1,500 and ₦1,800 per kilogram.
Diesel prices have risen to between ₦1,200 and ₦1,700 per litre, while kerosene has reached an eye-watering ₦2,976 per litre in some locations.
While these figures may seem like just numbers, they have far-reaching consequences for millions of Nigerians who rely on these energy products every day.
Food prices will keep rising
One of the first places Nigerians may feel the impact is in the cost of food.
Farm produce often travels hundreds of kilometres before reaching markets in major cities. With transport costs expected to increase, traders may pass the additional expenses on to consumers.
This means staple foods such as rice, beans, tomatoes, onions, garri, and yams could become more expensive in the coming weeks if transport and logistics costs continue to rise.
