The latest increase in the pump price of Premium Motor Spirit (PMS), popularly known as petrol, has triggered concerns among motorists, transport operators, traders and other residents in Oyo State over possible increases in transportation fares and the prices of food and other essential commodities.

Investigations in parts of Ibadan, the state capital, showed that some filling stations had increased their pump prices to above N1,400 per litre, with some outlets selling the product for as high as N1,420.

The development followed the upward review of the petrol price by Dangote Petroleum Refinery from N1,265 to N1,350 per litre, effective September 12, 2026.

The latest adjustment represents the fourth increase in the refinery’s petrol price since August 21, further heightening uncertainty among consumers and businesses across the state.

The increase has raised concerns that the higher cost of fuel could translate into increased transport fares, higher logistics expenses for traders and a further rise in the prices of food and other goods.

Residents and commercial transport operators who spoke in Ibadan lamented the latest development, saying it would worsen the cost of living and doing business.

A commercial driver operating within the Ibadan metropolis said the continuous increase in petrol prices was making it increasingly difficult for transport operators to sustain their businesses without adjusting fares.

Some transport operators expressed concern that the latest increase could force them to review fares in order to cover higher operating costs, a development that could impose additional financial pressure on commuters.

For traders, the concern is not limited to the direct cost of petrol, as higher fuel prices could also raise the cost of transporting goods from markets and distribution centres to different parts of the state.

Some residents also expressed concern that the development could increase household expenses, particularly among families that rely on petrol-powered generators to supplement electricity supply.

The repeated adjustments in petrol prices have continued to generate uncertainty among consumers, with residents closely monitoring prices at filling stations amid fears of further increases in the coming days.

Motorists and other consumers in Oyo State are now concerned that the latest petrol price increase could trigger another round of increases in transportation, food and other essential costs, further squeezing household incomes and business margins.