Petrol could hit N1,411/Litre in November as freight, insurance premiums bite – Analyst
Petrol prices in Lagos could reach N1,411 per litre in November if current freight, insurance and other import-related premiums remain unchanged, an energy analyst has projected. The post Petrol could hit N1,411/Litre in November as freight, insurance premiums bite – Analyst appeared first on Nairametrics .
The cost of petrol in Lagos, Nigeria could potentially reach N1,411 per litre by November if freight, insurance, and import-related premiums stay the same, according to an energy analyst's prediction. Kelvin Emmanuel, the Managing Partner of The Energy Consulting Practice, made this forecast, noting that the expense of transporting physical cargo shipments has surpassed the rates of futures contracts.
Nevertheless, some fuel marketers have categorized this anticipated increase as speculative, asserting that crude oil prices have not escalated further and that they are not presently considering raising pump prices. Factors that influence petrol prices in Nigeria's decentralized downstream market include crude oil costs, exchange rates, import financing, and other market elements.
Written by urgent.news from Nairametrics's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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