Nigerians to pay more for PMS as depot owners increase loading rates

The price of Premium Motor Spirit (PMS), commonly known as petrol, is expected to rise as depot owners implement a 4.74% hike in loading prices.

This development follows an increase in global crude oil prices, including Nigeria’s Bonny Light, which surged from $73 per barrel last week to $80 per barrel this week.

Depot Price Adjustments

Several depots have already adjusted their loading prices:

Swift Depot: Increased from N907 to N950 per litre.

Wosbab Depot: Increased from N909 to N950 per litre.

Sahara Depot: Increased from N910 to N950 per litre.

Shellplux Depot: Increased from N908 to N960 per litre.

Further details on the implications of this hike and potential effects on pump prices are awaited.