Oil marketers have increased the depot prices of Premium Motor Spirit or petrol in reaction to renewed demand signals and rising tensions in the Middle East.
With Brent crude climbing to $77.88 per barrel and WTI at $74.67, depot owners across Nigeria are already adjusting prices upwards.
Data obtained from Petroleum priceโs latest intelligence report noted that Nigerian depot prices for PMS and AGO (diesel) have gone up and are set to rise further this week if the ongoing conflict between Israel and Iran does not abate.
Depot prices as of June 20, 2025, showed that at Lagos depots, the pump price of PMS and AGO at the Dangote Refinery are โฆ880 and โฆ1,055, respectively. (Channels)
