Farashin petrol for depot don reach N1,900 for one litre for Port Harcourt on Friday, as market people across Lagos, Port Harcourt, Warri and Calabar push up prices. The rise happen despite lower pump prices for some filling stations for Lagos. NIPCO lead the Port Harcourt increase, as e raise PMS price by N170 per litre to N1,900 from N1,730. Six other depots also raise their own by N150 to the same N1,900 level.
For Port Harcourt, African Terminal, Ascon, Eterna, Gulf Treasure, Ibachem and Ibeto raise petrol price to N1,900 per litre from N1,750 each. Duport and Integrated increase their own to N1,806 per litre from N1,750, which be N56 per litre increase.
For Lagos, Masters raise petrol price to N1,350 per litre from N1,303, while Matrix increase to N1,360 from N1,330. Sigmund and T. S. L raise to N1,350 per litre from N1,300 each, and NIPCO increase to N1,350 from N1,326. For Calabar, Matrix raise price to N1,370 per litre from N1,315. For Warri, Keonamex, Matrix, Nepal and Parker increase to N1,360 per litre from N1,315 each, while Optima raise to N1,360 from N1,330.
For retail side, NNPC Limited sell petrol at N1,360 per litre for its filling stations for Lagos and surrounding areas. MRS Oil Nigeria Plc sell at N1,338 per litre, while 11 Plc sell at N1,338.80. Independent marketers charge between N1,368 and N1,400 per litre, depending on location. So motorists wey buy from MRS and 11 Plc pay less than those buying from some independent marketers, whose prices reach N1,400 per litre.
Diesel market also record increases for Warri, where Rain Oil and Matrix raise Automotive Gas Oil, AGO, prices by N180 per litre to N1,900 from N1,720 each. For Port Harcourt, Dangote increase diesel price to N1,720 per litre from N1,702, while Masters raise to N1,825 from N1,788.
For international market, Brent crude climb to $104.50 per barrel from $104.28, while West Texas Intermediate, WTI, rise to $91.73 from $91.49. OPEC Basket rise to $109.50 per barrel from $108.59, while WTI Midland increase to $92.74 from $92.32. Natural gas prices climb to $3.235 from $3.168, but Murban crude fall to $108.50 per barrel from $110.49. Among refined products, gasoline decline to $3.293 from $3.316, while heating oil drop to $4.724 from $4.883. Indian Basket rise to $121.10 per barrel from $117.63.
Olatide Jeremiah, Chief Executive Officer of Petroleumprice.ng, tell Vanguard for interview say: “Despite domestic issues and development in Nigeria, the downstream sector would continue to respond or react to developments at the global oil market.”
