Petrol prices have surged again, hitting N1,370 per litre at filling stations in Lagos as depot prices rise across the country.
A report by Vanguard said that on Tuesday pump prices varied by outlet. MRS and NNPC stations sold at N1,360 per litre, Mobil at N1,349, while many independent marketers sold between N1,365 and N1,370.
The retail hike was driven by fresh increases at depots.
In Lagos, A.A. Rano increased its ex-depot price by N75 to N1,295 per litre. African Terminal, Aiteo and Integrated also pushed their prices to about N1,300.
NIPCO raised its price by N55 to N1,305, while Dangote Refinery edged up by N3 to N1,303. MRS retained its depot price at N1,310.
In Port Harcourt, Matrix raised its price by N15 to N1,300, while Bulk Strategic, Masters and TSL maintained N1,300.
In Warri, A.Y.M Shafa and Matrix increased by N17 each to N1,300, with Parker up by N15 to the same level.
Calabar recorded the highest depot levels at N1,360 per litre at Fynefield and Northwest.
Diesel prices, however, showed mixed trends. In Lagos, WOSBAB cut Automotive Gas Oil (AGO) price by N21 to N1,809, Bulk Strategic by N15 to N1,835, Rain Oil to N1,850 and Dangote to N1,823.
In Warri, Matrix and Rain Oil trimmed prices by N5 each to N1,835, whiley Edo Refinery, NIPCO and Prudent held at N1,840.
Analysts say the volatility reflects continued instability in the downstream market, with depot price movements quickly filtering to pump prices
