Oil marketers have projected a new price of petrol, stating that it could rise above N700 per litre in Northern Nigeria effective July. According to Mike Osatuyi, the National Controller Operations of the Independent Petroleum Marketers Association of Nigeria, during an interview with The PUNCH, the prices of petrol may surge to above N700 per litre in the north following the commencement of petroleum product imports in July. Osatuyi further elaborated that individuals from the northern states could potentially pay as much as N700 and above for one litre of petrol, while residents outside Lagos might be charged around N610 per litre and residents in Lagos would pay approximately N600 per litre. He explained that the price variations would be influenced by factors such as the exchange rate, current crude prices in the international market, and the landing cost. In summary, the projected increase in fuel prices signifies a potential rise to N700 per litre in Northern Nigeria starting from July, as disclosed by the Independent Petroleum Marketers Association of Nigeria.
