₦airaland Forum

THE Premium Motor Spirit, PMS, also known as petrol would likely cost more as depot owners have increased prices by about 4.74 per cent.

This follows 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.

iwaeda:
THE Premium Motor Spirit, PMS, also known as petrol would likely cost more as depot owners have increased prices by about 4.74 per cent.

This follows 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.

…Details coming later
https://www.vanguardngr.com/2025/01/breaking-petrol-to-cost-more-as-depot-owners-raise-price-to-n950-litre/

Zionmdde:
Can they just keep the price stable? If it's 1000, 1500, 900 etc, just keep the damn price at one place. So price of commodities and stop fluctuating and people can find how to adapt and plan from there

Zionmdde:
Can they just keep the price stable? If it's 1000, 1500, 900 etc, just keep the damn price at one place. So price of commodities and stop fluctuating and people can find how to adapt and plan from there

Zionmdde:
Can they just keep the price stable? If it's 1000, 1500, 900 etc, just keep the damn price at one place. So price of commodities and stop fluctuating and people can find how to adapt and plan from there

casualobserver:
It is a deregulated market. Who are the “they” you speak of because the govt no longer has any control of the price of petrol. Just as it has no control over the price of tomatoes or yams.

Zionmdde:
Can they just keep the price stable? If it's 1000, 1500, 900 etc, just keep the damn price at one place. So price of commodities and stop fluctuating and people can find how to adapt and plan from there

Solsix:
Didn't you read that the price of crude oil increased in international market? If your cost price increase your selling price ought to increase if you wish to stay in business

iwaeda:
https://www.vanguardngr.com/2025/01/breaking-petrol-to-cost-more-as-depot-owners-raise-price-to-n950-litre/

Mathewrichard99:
Can only be stable only if government support inform of subsidy is reapplied again.

Presently, it's a free flow system whereby the international crude oil price will always determine the local price. The higher the international crude oil price, the higher Nigerians will pay per litre and opposite like that.....that's what's called deregulation of the oil industry. It's ain't normal again when government subsidize the price.

We are presently in another era of governance.......we must sit tight and add more hustle to our hustling.

Zionmdde:
I will tell you 2 things

1. Government has control over the price of petrol

2. Go and read 1 again

iwaeda:
https://www.vanguardngr.com/2025/01/breaking-petrol-to-cost-more-as-depot-owners-raise-price-to-n950-litre/

iwaeda:
Christmas ended too soon. It is expected crude is $81 per barrel.

iwaeda:
https://www.vanguardngr.com/2025/01/breaking-petrol-to-cost-more-as-depot-owners-raise-price-to-n950-litre/