The price of Premium Motor Spirit (PMS), commonly known as petrol, is expected to rise as depot owners have hiked their prices by approximately 4.74%.
This increase comes on the heels of a recent rise in crude oil prices, including Nigeria’s Bonny Light, which surged to $80 per barrel this week, up from $73 per barrel last week.
Several depots have already adjusted their prices, with Swift Depot raising its price to N950 per litre from N907, and Wosbab Depot increasing its rate to N950 per litre from N909.
Similarly, Sahara Depot raised its price to N950 per litre from N910, while Shellplux increased its price to N960 per litre from N908.
…Details to follow
Advertisement