Nigeria's Petrol Ex-depot Price Jumps 110% In Four Months 

Ex-depot price of Premium Motor Spirit otherwise known as petrol has risen by 110 per cent in four months. <br />The data showed that the ex-depot price rose from N148 per litre last October to an average of N312 per litre on February 3 this year. <br />The Nigerian National Petroleum Company Limited had set the price at which products can be sold to oil marketers at depots at N148 per litre. <br />It noted that N303/litre was recorded at Apapa depots, while N305/litre was recorded at Ibafon depots. The product was sold at the highest price of N312/ltr at the Satellite depot- all in Lagos State. <br />DAPPMAN also cited illegal levies and the high cost of daughter's vessels as other factors fuelling the price hikes. <br />