There are strong indications that pump price of petrol is expected to record another round of increases, the third within 10 weeks.

This comes as oil marketers hint that the landing cost of petrol has risen month-on-month, by 37.4 percent to 632.17 per litre in July 2023, from 460 naira per litre in June 2023.

The landing cost excludes other additional costs which includes deport related charges, transportation logistics and marketers’ margin, which would combine to bring delivery at filling stations at nearly 700 naira per litre.

Sources say foreign exchange has been a major concern where scarcity has persisted while exchange rate has also continued to deteriorate.