First Fortune raised diesel to N950/litre, Chisco to N1,050/litre, and Chipet followed suit. Master Energy adjusted petrol to N869/litre from N867/litre.
Fuel prices are expected to rise as crude oil surged to $67.50 per barrel, up 3.84% from last week. Vanguard checks revealed that four major depots—First Fortune, Chisco, Chipet, and Master Energy—have raised their prices. Diesel now sells at over N1,050/litre, while petrol reached N869/litre.
First Fortune raised diesel to N950/litre, Chisco to N1,050/litre, and Chipet followed suit. Master Energy adjusted petrol to N869/litre from N867/litre.
Petroleumprice.ng forecast continued volatility, citing global market instability. “The market is subject to changes. Currently, I think the volume of imported products has reduced, thus impacting the domestic market in one way or another,” said PETROAN President, Dr. Billy Gillis-Harry.
The PDP rejected the N108 ex-depot rate, demanding a N70 pump price. Meanwhile, NBS reported petrol prices rose by 76.73% year-on-year, with April’s average at N1,239.33.
Fuel marketers may further adjust pump prices if the current trend continues.