Petrol Price Rises To N970 Per Litre At The Pump

The price of Premium Motor Spirit (PMS) popularly known as petrol at the pump has reportedly risen to between N930 and N970 per litre in parts of Lagos and its outskirts, up from the previous rate of N865 per litre.

It was observed on Sunday that filling stations around Lagos have changed their pump price from N865 per litre to between N930 and N970.

Additionally, the depots prices of the product on Sunday morning stood between N890 and N900 per litre, indicating an increase from below N850 per litre two weeks ago.

The development is linked to recent statements from oil marketers, who revealed that the landing cost of imported petrol had surged by N88 per litre within a week, coinciding with rising import volumes.

It was confirmed that an AP filling station on Admiralty Road, Lekki Phase 1, was selling petrol at N930 per litre, with other outlets in Lagos pricing it between N930 and N935 per litre.

Furthermore, filling stations in Abuja and Magboro, Ogun State, have adjusted their prices to between N960 and N970 per litre.