By Udeme Akpan, Energy Editor & Ediri Ejor

Major oil marketers across Nigeria have raised the prices of Premium Motor Spirit (PMS), commonly known as petrol, from N1,010 to N1,050 per litre, marking a 4% increase in Lagos and surrounding areas.

Meanwhile, independent oil marketers have adjusted their prices to between N1,100 and N1,200 per litre, up from about N1,060 per litre, with variations depending on location.

Vanguard’s investigation revealed that due to the deregulated market, petrol prices are not fixed, resulting in slight price differences among filling stations, although some stations maintain similar pricing.