On Monday, major Nigerian depots for petroleum goods modified the landing costs for premium motor spirit and other petroleum products.
This comes as the price of crude oil, such as Brent crude, jumped beyond $80 per barrel on Monday.
Nigerian depot owners swiftly responded to the escalating global oil prices by announcing a minimum N40 modification to the price of gasoline.
According to information obtained by correspondent on Monday, Sahara Depot raised the price of a liter of gasoline from N910 to N950 last Friday, while Wosbab Depot raised its pricing from N909 to N950.
Additionally, Shellplux, a private depot, raised its loading fees from N908 to N960. Chipet Depot requested N960 per liter from shops in order to deliver goods.
Last Friday, it went for N908 per liter.
Matrix Warri Depot raised its pricing per litre from N925 to N945, while Nipco Depot raised its price from N912 to N950 by N38.
The price at the depot went up from N1,080 to N1,150. The price per liter was raised from N1,050 to N1,150 by Ibeto Depot. Last week, Sahara Depot sold its product for N1,045; this week, it offered it for N1,150.
While Optima Depot authorized a N72 hike to N1,120 per liter from N1,048 per litre, Nipco Depot raised their price from N1,120 to N1,150.
Depending on the depot and region, AGO costs have increased by 5–10%, while PMS depot prices have increased by an average of 7–10%.
The Federal Capital Territory’s retail fuel prices, which range from N935 to N1,100 per litre across filling stations, had not altered as of Monday, despite the increase in depot pricing.
The price war between Dangote Refinery and the Nigerian National Petroleum Company Limited has resulted in a notable drop in gasoline prices in recent weeks.
