Petrol price finally raised above N165 per litre

The price of petrol has finally been raised above N165 per litre across regions of the country.

Although the product has been selling above N165 in some parts of the country, a new price regime was released on Tuesday.

• Fuel scarcity, runway closure worsen flight delays
• Forex: Marketers alert on higher diesel prices, petrol scarcity

Petrol marketers have said the Federal Government gave approval for the raise, but the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) is yet to react to this.

Daily Trust attempted to get a confirmation from the NMDPRA on Tuesday morning but the spokesman of the agency, Mr Apollo Kimchi, did not respond to enquiries.

According to the regional price list effective from Tuesday, the rate rose from N165 to N179 per litre in the south west, south south and southeast regions.

The price was raised to N184 in the north west and N189 in the north east being a N24 increase, the highest in the new adjustment.

Petrol will now sell at N179 in the north central region. Although the product will sell for N169 in Lagos, marketers will sell for N174 in Abuja.

There is also an upward adjustment in the ex-depot price in the Lagos axis from N148.17 to a range of N160 and 162.

Depot’s in Warri/Ogbarra have their rates adjusted to N162-N165 while Port Harcourt depots will sell for N165-167.