Petrol depot prices have climbed to ₦1,900 per litre in Port Harcourt, while increases were also recorded in Lagos, Warri and Calabar, despite lower pump prices at some filling stations.
According to Vanguard, NIPCO raised its petrol price in Port Harcourt by ₦170, from ₦1,730 to ₦1,900 per litre. African Terminal, Ascon, Eterna, Gulf Treasure, Ibachem and Ibeto also increased their rates from ₦1,750 to ₦1,900.
Duport and Integrated raised their prices by ₦56 to ₦1,806 per litre.
In Lagos, Masters, Sigmund, T.S.L and NIPCO adjusted their prices to ₦1,350 per litre, while Matrix increased its rate to ₦1,360. Matrix also raised its price in Calabar to ₦1,370.
In Warri, Keonamex, Matrix, Nepal and Parker increased their petrol prices to ₦1,360 per litre, while Optima adjusted its rate to the same amount.
At the retail level, NNPC sold petrol for ₦1,360 per litre in Lagos and surrounding areas. MRS Oil charged ₦1,338, while 11 Plc sold at ₦1,338.80. Independent marketers charged between ₦1,368 and ₦1,400, depending on location.
The increases came amid rising international oil prices. Brent crude rose to $104.50 per barrel, while the US benchmark, WTI, climbed to $91.73.
The higher diesel costs could further increase expenses for manufacturers, transport operators and businesses that depend on diesel for electricity and transportation.
Speaking to Vanguard, petroleumpriceng Chief Executive Officer Olatide Jeremiah said,“Despite domestic issues and development in Nigeria, the downstream sector would continue to respond or react to developments at the global oil market.”
However, the mixed movements in global oil benchmarks suggest that crude prices alone may not explain the domestic increases, as supply conditions, transportation costs and marketers’ pricing decisions can also affect pump prices.
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