By Bayero Ade
Depot owners have raised the cost of Premium Motor Spirit (PMS), commonly known as petrol, by 4.74 per cent, sparking expectations of an imminent hike in pump prices.
The adjustment comes amid a rise in global crude oil prices, including Nigeria’s Bonny Light, which climbed from $73 per barrel last week to $80 per barrel this week, Vanguard reports.
Several depots have already revised their rates upwards. Swift Depot now sells petrol at N950 per litre, up from N907, while Wosbab Depot increased its price to N950 from N909. Sahara Depot has also adjusted its price to N950 from N910, and Shellplux Depot now sells at N960 per litre, up from N908.
More details to follow.
Leave a Reply