The price of Premium Motor Spirit (PMS), or petrol, is anticipated to rise as depot owners raise their prices by 4.74%.
This price hike follows the recent increase in crude oil prices, with Nigeria’s Bonny Light rising from $73 per barrel last week to $80 per barrel this week.
Several depots have already adjusted their prices. Swift Depot has raised its price to N950 per litre from N907, while Wosbab Depot increased its price to N950 from N909.
Similarly, Sahara Depot now charges N950 per litre, up from N910, and Shellplux Depot has adjusted its price to N960 per litre from N908.
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