Nigeria Raises Petrol Prices by 9% Despite Falling Crude Oil Costs

Domestic fuel prices in Nigeria increased to N1,310 per litre even as international crude oil prices dropped by five percent. The divergence highlights ongoing challenges in local refining capacity and subsidy adjustments.

29 Aug, 18:02 — 29 Aug, 18:02

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Petrol price rises 9% to N1,310/litre despite falling crude oil prices – Report

Despite a five per cent drop in crude oil prices to $87.31 per barrel from $92, the domestic price of Premium Motor Spirit, PMS, also known as petrol, rose by nine per cent to N1,310 per litre from N1,205 per litre yesterday. The post Petrol price rises 9% to N1,310/litre despite falling crude oil prices – Report appeared first on Vanguard News.

By Emmanuel Okogba

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Nigeria Raises Petrol Prices by 9% Despite Falling Crude Oil Costs

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Petrol price rises 9% to N1,310/litre despite falling crude oil prices – Report

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