Petrol price don increase sharply, ranging from N1,050 to N1,150 per litre, following the recent price hike by Dangote Petroleum Refinery and other depot owners. Dealers confirm say PMS prices go continue to rise since crude oil, the major component in fuel production, dey increase lately.

The National President of PENGASSAN, Festus Osifo, earlier warn say petrol prices might soon rise if crude oil price continue to increase. Dangote Petrochemical Refinery increase its PMS price from N899/litre to N955/litre, causing other depot owners to increase their prices too.

Private depots increase their loading costs to N970 in Lagos and N1,000 in Calabar. Oil marketers predict say petrol price fit reach N1,100/litre in Lagos and neighbouring states, and N1,150 in Federal Capital Territory.