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The Nigerian downstream market has recorded a fresh increase in fuel prices, with the average cost of petrol and diesel rising by 86.3 per cent this year.
By September 22, petrol was selling at an average of ₦1,378 per litre, while diesel had climbed to ₦1,899 per litre.
Diesel recorded the bigger increase, rising by 91.8 per cent from its January benchmark, while petrol went up by 80.8 per cent within the same period.
The latest figures came after several months of relative stability, with fuel prices beginning to rise again in August and continuing into September.
The development is expected to increase operating costs for transporters, manufacturers, logistics companies and other businesses that depend heavily on petroleum products.
