Petrol prices at some depots in Port Harcourt have risen to N1,900 per litre, even as the Federal Government and NNPC Limited try to reduce costs for motorists. African Terminal, Ascon, Eterna, Gulf Treasure, Ibachem, and Ibeto all increased their Port Harcourt petrol prices from N1,750 to N1,900. NIPCO raised its price by N170 per litre. Diesel has also reached N1,900 in Warri.
The N1,900 figure is a wholesale price at specific depots, not a national pump price. In Lagos, NNPC sold petrol at N1,360 per litre, while MRS sold at N1,338. In Calabar, Matrix raised its price from N1,315 to N1,370.
On October 8, Finance Minister Taiwo Oyedele announced a 30-day discount on petrol at NNPC stations, prioritising public transporters.
The Presidency stated further that NNPC Retail would waive its retail margin and sell at cost for 30 days.
The exact amount of the per-litre discount had not been published at the time of reporting.
Separately, NNPC extended its N66-per-litre discount for registered app users until October 14 and added diesel.
Global crude oil prices are a major drive for the rise in petrol, with Brent rising to $104.50 per barrel.
Pump prices will likely vary significantly by location in the coming days. Whether the proposed N1,350 ceiling is formalised and enforced beyond Lagos, Port Harcourt, and Calabar will be crucial, as will whether depots in Warri and elsewhere follow suit.
The relief at NNPC stations is temporary.follow suit.
Administrator and Writer
