The Dangote Refinery has again increased the price of petrol to N1,175 per litre, marking the third price hike within one week.
Reports indicate that the latest increase may further worsen the cost of living for Nigerians, as transportation fares and prices of other goods are expected to rise due to the higher petrol cost.
Economic analysts say the frequent price adjustments are linked to fluctuations in global crude oil prices, the exchange rate of the naira to the dollar, and the current fuel market structure following the removal of fuel subsidy.
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