Motorists and residents across Oyo State are experiencing renewed pressure on their finances as the price of petrol has climbed beyond ₦1,400 per litre at some filling stations in Ibadan.

The latest increase followed a fresh adjustment in the gantry price of Premium Motor Spirit (PMS) by Dangote Petroleum Refinery.

The refinery reportedly raised its petrol price from ₦1,265 to ₦1,350 per litre, with the new rate taking effect on September 12, 2026. This marks the fourth upward adjustment in the refinery’s petrol price since August 21.

Following the increase, several filling stations in Ibadan have reviewed their pump prices. While some outlets are selling petrol at around ₦1,400 per litre, others have pushed their prices to approximately ₦1,420.

The development has sparked concern among motorists, transport operators, traders and households, who fear that higher fuel costs could trigger another increase in the prices of transportation, food and other essential goods.

Commercial transport operators are particularly worried about the effect of the rising pump price on their businesses. Drivers say the additional cost of fuelling their vehicles is making it increasingly difficult to maintain existing transport fares.

A commercial driver operating in Ibadan, identified as Aabi, said frequent increases in petrol prices were placing significant pressure on transport operators.

According to him, drivers who purchase fuel regularly may eventually have no choice but to increase fares as their operating expenses continue to rise.

Traders are also concerned that higher fuel costs will make it more expensive to transport goods from markets and distribution points to consumers. Such additional logistics expenses could eventually be reflected in the prices paid by customers.

For households that rely on petrol-powered generators because of inadequate electricity supply, the increase could further stretch already-tight budgets.

The latest petrol price adjustment comes against the backdrop of continued volatility in the global oil market, with geopolitical tensions contributing to concerns over international energy supplies.

With marketers adjusting their prices in response to changing supply costs, motorists in Oyo State are closely monitoring developments at filling stations amid fears that petrol prices could rise further in the coming days.

The latest increase is expected to add to the cost-of-living pressures already confronting households and businesses across the state.