Filling stations have raised their pump prices for petrol to ₦900/litre and above despite a decline in the cost of crude oil since Sunday.
Some retail outlets owned by the Nigerian National Petroleum Company Limited (NNPCL) raised petrol prices to ₦900 per litre in Lagos and Ogun states, even as crude prices dropped from nearly $69 to $66 per barrel.
Dangote refinery partners, including Ardova and Heyden, jerked prices above ₦900 per litre. Our correspondent observed that AP, a partner of the Dangote refinery, sold petrol at the rate of ₦925 per litre in the Mowe area of Ogun State, while Heyden offered ₦910.
Recall that filling stations along the Lagos-Ibadan Expressway displayed different prices on Monday, confirming a new price regime despite no significant rise in crude prices or the Naira-dollar exchange rate. However, according to marketers, who spoke to newsmen, the prices might come down this same week.
Throughout last week, petrol was sold below ₦900 in many of the filling stations in Lagos, Ogun and environs, while the prices were higher in the South-East, South-South and the North.
As of yesterday, TotalEnergies sold petrol at ₦910, while Asharami offered N905 per litre. NIPCO and Fatgbems were yet to hit the ₦900 template on Monday, selling petrol at ₦890 and ₦892 respectively. Enyo sold the product at ₦915 per litre.
Other listed depots include: NIPCO Lagos – ₦852; Northwest – ₦860; Alkanes – ₦860; Ever, at ₦863, TSL – ₦864, Pinnacle, at ₦851.5, Menj, at ₦852, and Sahara, at ₦855.
Speaking, the National Publicity Secretary of the Petroleum Products Retail Outlet Owners Association of Nigeria, (PETROAN), Joseph Obele, said marketers were expecting a drop in fuel prices this week.
Obele noted that fuel prices went up because crude prices rose about 10 days ago. However, he noted that crude prices dropped a few days later, stating that pump prices should be adjusted downward this week.
