Private petroleum depots in Lagos have raised the ex-depot price of Premium Motor Spirit (PMS) to as high as N800 per litre, sparking fresh concerns over an imminent rise in pump prices nationwide.
Data from petroleumprice.ng on Saturday showed that average depot prices climbed sharply within 48 hours, tightening margins for fuel marketers. While Dangote Depot maintained the lowest rate at N703 per litre on Friday, a slight increase from N702.50 earlier in the week, other depots recorded steeper jumps.
Eterna and Integrated depots raised prices to N800 per litre, up from N726 per litre earlier in the week. Shellplux and AIPEC prices also reflected similar upward trends. Aiteo and Lister depots adjusted their rates to N780 per litre, from the N750–N760 range recorded days earlier.
Industry watchers warn that the sudden hike could translate into higher pump prices across Lagos and other states if the trend persists.
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