Filling stations around Lagos and environs have jerked up their prices to between N1,000 and N1,100.
At AP filling station Dalemo, Alakuko Lagos State, the product now sells at N1,090 from the previous N980/liter a few days before.
Similarly at Mobil Filling Station, Baale Animasaun Road, Agbado Lagos, the product sells at N1050/liter up from N970/liter the previous day.
At MRS Filling Station along Oshodi Apapa Expressway, this correspondent observed that the product which previously sold at N935/liter has been jerked up to N1,020/liter.
In the same vein, the product now sells at N1,090/liter at the AP Filling Station along the Egbeda-Idimu-Isheri axis.
This hike is not unconnected to the recent increase in the ex-depot price of premium motor spirit (PMS) popularly known as petrol from Dangote Refinery.
The Dangote Petroleum Refinery on Friday increased the ex-depot price of its petrol.
In an email to customers on Friday, the refinery said its refined products would now cost N955 per litre at the loading gantry.
The upward adjustment comes amid rising crude oil prices in the international market, with the cost of Brent, the global benchmark for crude, recently hitting $81 per barrel.
Marketers, who are buying between 2 million – 4.99 million litres, will now purchase it at N955 per litre while 5 million litres and above will buy at N950 per litre.
This represents an increase of N55.5 or 6.17% from N899.50 per litre that was fixed last December.
The notice read: “Kindly be advised that effective from 5:30 PM today, an upward adjustment has been implemented on the gantry price of Premium Motor Spirit.
“Please note that all stock balances yet to be lifted as at the above-stated time are to be repriced at the new reviewed prices.
“We shall communicate with customers on their revised volumes based on the reviewed prices, in due course.”
By: Babajide Okeowo
