Major petroleum products depots in Nigeria, on Monday, adjusted their landing costs for premium motor spirit (PMS) and other petroleum products due to a surge in global crude oil prices.
Brent crude oil prices rose above $80 per barrel, prompting the price adjustments.
Here are some of the changes:
- Wosbab Depot: Increased price to N950 from N909.
- Sahara Depot: Adjusted price to N950 from N910.
- Shellplux Depot: Raised price to N960 from N908.
- Chipet Depot: Asked retailers to pay N960 per litre.
- Nipco Depot: Increased price by N38 from N912 to N950.
- Matrix Warri Depot: Raised cost from N925 per litre to N945.
- Ibeto Depot: Approved an increase from N1,050 to N1,150 per litre.
- Sahara Depot: Sold product at N1,150 from N1,045 last week.
- Nipco Depot: Increased price to N1,150 from N1,120.
- Optima Depot: Approved a N72 increase to N1,120 per litre from N1,048.
The average increase in depot prices for PMS stands at approximately 7-10%, while AGO prices have surged by 5-10%, depending on the depot and location.
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