The price of Premium Motor Spirit (PMS), commonly known as petrol, is expected to rise following a 4.74% price increase by depot owners.
READ ALSO: NNPC gives reasons for increase in PMS price
This adjustment comes in the wake of a surge in global crude oil prices, with Nigeria’s Bonny Light increasing from $73 per barrel to $80 per barrel this week.
Several depots have already raised their loading prices. Swift Depot, for example, increased its price to N950 per litre from N907 per litre. Wosbab depot also raised its price to N950 per litre from N909 per litre.
Similarly, Sahara Depot’s price now stands at N950 per litre, up from N910 per litre, while Shellplux has increased its loading price to N960 per litre, up from N908 per litre.
Details later…
