Petrol station don raise pump price reach N900 per litre and even pass am, even though crude oil price don drop since Sunday.
Some filling stations wey belong to Nigerian National Petroleum Company Limited don sell petrol for N900 per litre for Lagos and Ogun, even as crude oil price drop from almost $69 to $66 per barrel.
Dangote refinery partners like Ardova and Heyden don increase price pass N900. Our reporter see say AP, wey be Dangote refinery partner, dey sell petrol for N925 per litre for Mowe area of Ogun State, while Heyden dey sell am for N910.
Filling stations along Lagos-Ibadan Expressway show different prices on Monday, wey confirm say new price don enter, even though crude oil price and dollar exchange rate never go up.
But marketers talk say petrol price fit drop this week.
Last week, many filling stations for Lagos, Ogun and nearby areas dey sell petrol below N900, but price high for South-East, South-South and North.
As at yesterday, TotalEnergies dey sell petrol for N910, Asharami dey sell for N905. NIPCO and Fatgbems never reach N900, dem dey sell for N890 and N892. Enyo dey sell for N915 per litre.
On Friday, Dangote refinery talk say dem don raise ex-depot price from N820 to N850, but dem no give reason. Data from Petroleumprice.ng show say depot price average na N855 per litre. Aiteo dey sell for N850, Sobaz and Mainland reach N870. Other depots like NIPCO Lagos dey N852, Northwest N860, Alkanes N860, Ever N863, TSL N864, Pinnacle N851.5, Menj N852, Sahara N855.
Meanwhile, as traders dey increase pump price for Nigeria, Brent crude drop 4.4%, West Texas Intermediate drop 5.1% on Friday. Reuters talk say oil price stable on Friday as market dey wait meeting between Russian President Vladimir Putin and US President Donald Trump. But oil price still suffer biggest weekly loss since June because of wahala for global economy.
Brent crude futures end for $66.59 per barrel, while US West Texas Intermediate crude futures stay for $63.88. US crude drop over 1% earlier after report say Washington and Moscow dey plan peace deal for Ukraine war.
Marketers dey expect price go drop
Joseph Obele, wey be National Publicity Secretary of Petroleum Products Retail Outlet Owners Association of Nigeria, talk say marketers dey expect fuel price go drop this week.
Obele talk say fuel price go up because crude oil price rise about 10 days ago. But crude price later drop, so pump price suppose reduce this week.
“Last weekend, crude oil price rise. Refineries come increase price. Few days later, price drop again because of meeting between Trump and Russian Ambassador.
“Na Trump threat to Russian President cause the price wahala. But when threat calm down, traders reduce price. So, maybe tomorrow or next tomorrow, we go see price drop,” Obele talk.
He also talk say another reason wey make petrol price go up na because Dangote refinery stop PMS loading for about eight days. But Dangote refinery deny the claim, say dem dey supply 40 million litres of petrol daily.
Obele conclude say “by Tuesday or so, we go see price drop for petrol.”
