BREAKING: Petrol Prices Shoot Up as Depot Owners Raise Rates to N950/Litre
The Premium Motor Spirit (PMS), better known as petrol, just got a fresh price tag thanks to a hike from depot owners. The new rate? A steep N950 per litre! Let me break it down for you.
The buzz is that the surge in crude oil prices is the main culprit here. Nigeria’s very own Bonny Light crude jumped to $80 per barrel from $73 last week. This spike has triggered some serious action from depots across the board.
Depot owners are not holding back. For instance, Swift Depot has bumped its loading price to N950 per litre from the previous N907. Not to be outdone, Wosbab Depot also moved their rate to N950 from N909. Sahara Depot followed suit, hiking prices to N950 per litre from N910. Meanwhile, Shellplux turned heads by increasing to N960 per litre from N908. It’s like a domino effect, and we’re feeling it.
If you’re a car owner or rely on public transportation, this price jump will likely hit you where it hurts the most – your pocket. We’ve seen it happen before: higher depot prices almost always mean increased costs at the pump. And let’s not forget how this trickles down to everyday goods and services.
Honestly, it’s anyone’s guess. But with crude oil prices showing no signs of slowing down, planning your expenses carefully is a good idea. Stock up if you can, carpool when possible, or explore alternatives to help you ride this wave.
Stay tuned for updates as this story unfolds. Let’s hope for some good news soon, but for now, it’s time to tighten those belts and brace for impact.
