The price of Premium Motor Spirit (PMS), or petrol, is expected to rise as depot owners have raised prices by approximately 4.74%. This change comes in response to an increase in crude oil prices, with Nigeria’s Bonny Light rising to $80 per barrel from $73 per barrel.
Several depots have adjusted their loading prices: Swift Depot has increased its price to N950 per liter from N907, Wosbab Depot has raised it to N950 from N909, Sahara Depot has moved to N950 from N910, and Shellplux has set its price at N960 per liter, up from N908.