Not all petrol stations are moving in the same direction, though. For example, the Mobil station across from the NNPC outlet in Lagos actually reduced its price slightly, from N990 to N980 per litre.

NIPCO increased its loading costs by N30 to N980 from N950 on Thursday. Also, a private depot, Rainoil, increased its loading costs to N970 from N950. A private depot, Alkanes, in Calabar ...

This is because we will add about N50 logistics costs. Currently, ex-depot prices have increased to N980. “This change is immediate because crude oil price increase, too, is immediate,” he stated.

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