Fuel marketers have raised the price of Premium Motor Spirit (PMS), also known as petrol, to as much as N1,040 per liter in Lagos and N1,080 per liter in Abuja.
The price rise came just a day after the Dangote Refinery hiked the price of petrol at its ex-gantry to N995 per litre. This has caused a chain reaction among stores.
According to Sunday Guardian, checks at numerous gas stations in Lagos and Abuja yesterday showed that the item is now retailing for more.
NNPC Limited’s stores in Ilasa, Apple Junction, and Ago Palace Way in Lagos sold petrol for N1,040 per liter, which is N47 more than the previous price of N993 per liter.
Also, Emadeb Energy and PM Petroleum stations along the Oshodi–Apapa Expressway were selling gas for N1,040 per liter.
At a Techno Oil store in Festac Town, the price for a liter of the product was N1,050. At MRS Oil Nigeria outlets, the price for a liter of fuel was N1,057.
At Gegu Oil Nigeria along the Kubwa Expressway in Abuja, gas cost N1,050 per liter. At Empire Energy filling stations, it cost N1,080 per liter.
However, the price of the item was a little lower at an Ardova Plc (AP) store, where it was N959 per liter.
The most recent price increase comes at a time when tensions are rising in the Middle East, which has had a big effect on the price of crude oil around the world.
As the tension between the US, Israel, and Iran grew worse in the region, crude oil prices rose to approximately $91 per barrel on Friday.
About the Author
