Petro Price Jumps To N930/L Across Filling Stations in Lagos Filling stations in Lagos have augmented the price of premium motor spirit (PMS), likewise known as petrol, to N930 per litre.
The Round Table corroborated on Monday that First Royal petrol station along College Road, Ogba, Lagos, augmented its price from N860 to N930 per litre.
AS Sallam Petroleum, opposite First Royal, and MRS Oil filling station, in Festac, furthermore enlarged their petrol price from N860 to N930.
However, Mobil petrol station, at Abeokuta bus-stop, off College Road, Ogba, added to its pump price to N935, up from N865 per liter.
The hike in petrol price pursued Dangote refinery’s decision to temporarily stop temporarily stop selling petroleum products in naira after a breakdown in negotiation for the naira-for-crude deal.
Dangote refinery and other refiners approved with the federal government to sell petroleum products in naira in reciprocate for the sale of crude oil in the local currency concluding year.
The homology was meant to reduce the impact of alien reciprocate on the sale of crude oil and petroleum products, and reduce pressure on naira.
However, parties involved in the deal have not approved to a new contract as the introductory contract expires at the end of March 20, forcing Danote refinery to source for crude oil in the international market.
Nigeria officially commenced the sale of crude oil and refined petroleum products in naira to local refineries on October 1, 2024.
The increase in price comes more than a month after the refinery reduced its petrol ex-depot price to N825 on February 26, which led to a drop in PMS prices at filling stations.
Category: World-News
Tag: Petro Price Jumps To N930L Across Filling Stations in Lagos
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Published 4/1/2025