Depot owners raise petrol price to N950/litre

In another development, the cost of Premium Motor Spirit better known as petrol would likely rise as depot owners have increased prices by about 4.74 percent.

Reports gathered indicated marketers raised petrol and diesel prices at depots following the recent increase of crude oil prices, including Nigeria’s Bonny Light to $80 per barrel this week from $73 per barrel last week.

Already, some depots, including Swift Depot have increased their loading prices to N950 per litre from N907 per litre while Wosbab depot also increased its price to N950 per litre from N909 per litre.

Similarly, Sahara Depot increased its price to N950 per litre from N910 per litre while Shellplux, increased its loading price to N960 per litre from N908 per litre.