The Major Oil Marketers Association, has said that the landing cost of petrol has jumped to N278, with experts in the energy sector warning that subsidy payments would increase.

This comes as the international crude oil benchmark traded at $80.02 per barrel, its highest since October 2018, as of 12:09pm Nigerian time on Tuesday according to Oilprice.com.

Chief Executive Officer and Executive Secretary of MOMAN, said as at the last time of checking in September, that the landing cost price of Premium Motor Spirit, popularly called petrol was N278 per litre assuming an exchange rate of N410 per dollar

Energy experts said this development has raised worries about additional stress on the nation's finances from the  angle of increased subsidy payments without a commensurate increase in crude oil earnings.