Petrol depot prices have climbed to ₦1,900 per litre in Port Harcourt, with marketers also increasing rates in Lagos, Warri and Calabar despite the Federal Government’s 30-day petrol discount initiative.
According to Vanguard, NIPCO raised its depot 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 per litre.
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 per litre.
In Warri, Keonamex, Matrix, Nepal, Parker and Optima adjusted their prices to ₦1,360 per litre.
At the retail level, NNPC sold petrol for ₦1,360 per litre in Lagos and surrounding areas. MRS Oil and 11 Plc charged ₦1,338 and ₦1,338.80 respectively, while independent marketers sold between ₦1,368 and ₦1,400, depending on location.
The increases came as Brent crude rose to $104.50 per barrel and West Texas Intermediate (WTI) reached $91.73.
Olatide Jeremiah, chief executive officer of petroleumpriceng, told Vanguard that the downstream sector would continue to respond to developments in the global oil market.
The rising costs could also put additional pressure on transport operators, manufacturers and businesses that rely on diesel for power and transportation.
