Filling stations across Nigeria may be forced to adjust their pump prices once more as the ex-depot price of petrol experiences a significant increase.
According to the Independent Petroleum Marketers (IPMAN), Premium Motor Spirit (PMS) or petrol has now increased to N710 per litre in private depots.
Vanguard reports that some private depots in Lagos’ Satellite and Apapa areas are also selling for as high as N735 per litre.
The ex-depot price of petrol is the price at which depot owners sell petrol to retail outlets in Nigeria. It determines how much petrol stations sell to motorists.
Depot prices have become a concern for marketers, and this might force filling stations to set retail prices as high as N750 per litre or more.
Only the Nigerian National Petroleum Company Limited (NNPCL) sells petrol cheaper, at N610 and N568 per litre.
A marketer said:
Earlier, TimesNow.com.ng revealed that Nigerians pay more to buy petrol once again across the country.
The report noted that the national retail average price for a litre of petrol was up to N701.24, with Kogi residents paying the highest.
Marketers have offered a ray of hope to Nigerians ahead of the Port Harcourt refinery operation and Dangote’s release of petroleum products.
Source: TimesNow.com.ng
