FOLLOWING the increase in the depot price of petrol to N710 per litre, filling station in the country’s commercial centre have started adjusting their pumps to reflect a new price regime.
According to the Independent Petroleum Marketers (IPMAN), Premium Motor Spirit (PMS) or petrol, has now increased to N710 per litre in private depots and customers outside Lagos are expected to pay more due to the rising cost of haulage.
Some private depots in Lagos’ Satellite and Apapa areas are reportedly selling as high as N735 per litre, as the ex-depot price, which is the price at which depot owners sell to retail outlets, determines how much petrol stations sell to motorists.
Already, independent petroleum marketers have expressed concern over the rising price of petrol in private depots to N710 per litre, forcing their outlets to sell between N730 and N750 per litre.
