Petrol Prices Hike To N1,150 Per Litre After An Increase From Dangote Refinery
The retail price of Premium Motor Spirit (PMS), popularly regarded as add petrol, has increased to N1,030–N1,150 per litre. This new development occurs after Dangote Refinery raised its ex-depot price from N899 to N955 for each liter.
Only marketers that will be buying from two to five million liters and more will have the opportunity to buy at N950/litre.
The increase in the price is equal to 6.17%, and this has caused an adjustment in the retail prices, with some stations in Abuja raising the price from N980 to N1,155 for each liter.
Among those that have the PMS prices are those who own depots, while NNPC stations sell PMS at N965 per liter.
Chinedu Ukadike, the official spokesperson for the Independent Petroleum Marketers Association of Nigeria, suggested that retail prices for petrol will go above N1,100.
This increase in price comes after an increase in crude oil prices to $81 per barrel, which affects the costs of petrol that formerly ranged from N935 to N1,100 last December.
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