Business

Petrol To Cost More As Depot Owners Raise Price To N950/litre

The cost of Premium Motor Spirit (PMS), commonly known as petrol, is expected to rise as depot owners have increased prices by approximately 4.74%.

This development comes in response to a recent surge in crude oil prices, with Nigeria’s Bonny Light climbing to $80 per barrel this week from $73 per barrel last week.

Some depots, such as Swift Depot, have raised their loading prices to ₦950 per litre from ₦907 per litre, while Wosbab Depot increased theirs to ₦950 per litre from ₦909 per litre. Similarly, Sahara Depot adjusted its price to ₦950 per litre from ₦910 per litre, and Shellplux Depot raised its loading price to ₦960 per litre from ₦908 per litre.

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