Despite the reported slight decrease in the price of petrol in late 2024, the Premium Motor Spirit, PMS, commonly known as petrol, is expected to cost more as depot owners plan to increase prices by about 4.74 percent.
This anticipated increase is a result of the recent rise in crude oil prices, with Nigeria’s Bonny Light to $80 per barrel this week from $73 per barrel last week.
According to a report by Vanguard newspaper reports that some depots, including Swift Depot, have increased their loading prices to N950 per liter up from N907 per litre while Wosbab depot also increased its price to N950 per litre from N909 per litre.
Vanguard also reports that Sahara Depot, has also increased its price to N950 per litre from N910 per litre while Shellplux, increased its loading price to N960 per litre from N908 per litre.
With reports from Vanguard