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Diesel depot prices climbed at several major supply hubs in Lagos and Port Harcourt on Wednesday as global oil prices rebounded sharplyBrent crude surged 6.48 per cent to $89.54 per barrel, reversing losses recorded earlier in the week amid fresh geopolitical tensionsMarketers have already begun adjusting ex-depot rates, with industry observers warning of further increases if the crude rally holds
Pascal Oparada is a journalist with Legit.ng, covering technology, energy, stocks, investment, and the economy for over a decade.
Nigerian diesel marketers have started raising depot prices after international crude oil benchmarks surged sharply on Wednesday, piling fresh cost pressure onto the downstream fuel market.
Checks by Petroleumprice.ng at 2:50 p.m. WAT showed Brent crude trading at $89.54 per barrel, a gain of 6.48 per cent on the day, while the U.S. West Texas Intermediate (WTI) benchmark climbed 6.32 per cent to $84.27 per barrel.
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