The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has warned that petrol and diesel prices in Nigeria may rise to N2,000 and N3,000 per litre respectively amid the ongoing war in the Middle East, worsening hardship for Nigerians.
Billy Gillis-Harry, the National President of PETROAN made this known in a statement on Monday.
The PETROAN President 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.
“PMS could rise close to N2,000 per liter, while AGO may approach N3,000 per liter if the situation persists,” Gillis-Harry said.
Billy affirmed that , the surge in petrol product prices “would worsen inflation, cause job losses, deepen economic hardship, increase transportation costs, and raise prices of goods and services nationwide.”
However ,as a solution, the petroleum retailers urged Nigerian National Petroleum Company Limited to activate operation in Nigeria’s local refineries, particularly the Area 5 plant at Port Harcourt refinery and the Warri refinery.
The PETROAN’s petrol price forecast became even more realistic as Dangote Refinery, depot owners, on Monday further increased their prices to N1,175 per liter for DR and N1,100 per liter for Masters and Liquid Bulk depots, respectively.
Therefore ,N1,175 per liter as of Monday, up from N799 before 28th February 2026, when the US and Israel coordinated an attack on Iran and eventually escalated the war in the Gulf region.
At the same time , NNPCL, MRS, AA Rano, and others as of the time of filing the report are selling between N1082 per liter and N1100 in Abuja and environs; the price is expected to increase following Dangote’s latest N1,175 per liter hike.
