The price of Premium Motor Spirit (PMS), commonly known as petrol, is expected to rise as depot owners have raised their prices by approximately 4.74%.
This price hike follows a recent increase in global crude oil prices, with Nigeria’s Bonny Light crude rising to $80 per barrel this week from $73 per barrel last week.
Several depots have already adjusted their prices, with Swift Depot increasing its loading price to N950 per litre from N907.
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Wosbab Depot has also raised its price to N950 per litre from N909, while Sahara Depot increased its rate to N950 per litre from N910. Additionally, Shellplux Depot has raised its loading price to N960 per litre, up from N908 per litre.
These price changes are likely to impact the cost of petrol at filling stations across the country, as the increase in depot prices is typically passed on to consumers.
, commonly known as petrol, is expected to rise as depot owners have raised their prices by approximately 4.74%.){kind=link}