Fuel prices at filling stations are now expected to rise as oil marketers in Nigeria face higher costs to load Premium Motor Spirit (PMS) and other refined petroleum products.
The change is due to a sharp increase in global crude oil prices as Brent crude hit $80 per barrel.
Punch reports that operators of oil depots have adjusted their ex-depot petrol prices, selling at N950 per litre from N907.
Wosbab Depot raised its price to N950 per litre from N909, while Sahara Depot made a similar adjustment to N950 from N910, as recorded last Friday.
Shellplux, a private depot, increased its loading costs to N960 per litre, up from N908, while Chipet Depot now charges retailers N960 per litre, compared to N908 last Friday.
NIPCO depot raised its price by N38, moving from N912 to N950 per litre, while Matrix Warri Depot adjusted its cost from N925 to N945 per litre.
A similar trend is observed for diesel, with several depots implementing significant price hikes. Stockgap Depot raised its price from N1,080 to N1,150 per litre, while Ibeto Depot approved an increase from N1,050 to N1,150.
Business Hallmark also reported that Sahara Depot adjusted its diesel price, moving from N1,045 last week to N1,150 per litre.
Nipco Depot increased its price to N1,150 from N1,120, and Optima Depot approved a N72 hike, raising its price to N1,120 per litre from N1,048.
The increase in the cost of ex-depot prices could lead to changes in petrol prices in the country.
TimesNow.com.ng observed that various filling stations currently sell fuel between N935 and N1,050.
A fuel attendant at Mobil filling stations, who gave her name as Ugoma, told TimesNow.com.ng:
NNPC is, however, still selling at N890 per litre.
MRS filling station, in a message posted on January 10, said:
TimesNow.com.ng reports that the Independent Petroleum Marketers Association of Nigeria (IPMAN) are asking the federal government for support to be able to sell CNG fuel across the country
The lack of enough CNG stations has slowed Nigerians’ pace of vehicle conversion.
CNG is priced at N200 per Standard Cubic Meter, which is far cheaper than paying N1,000 per litre for petrol.
Source: TimesNow.com.ng
