Fuel importers are set to increase the depot price of petrol from N1,230 per litre to N1,350.
As of Thursday Importers have reportedly notified marketers of the new depot price of N1,350 per litre, industry sources say.
The new depot price is expected to take effect from July 17, according to a report publish by TheCable meaning that Nigerians will pay more at the pumps.
It was further learnt that the new price reflects the increased cost of imported cargoes.
The development follows the issuance of a fresh round of fuel import licences by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) for the third quarter (Q3) of 2026.
