Global oil prices took a dramatic turn on Wednesday, jumping by five per cent, after dropping to $88 per barrel on Tuesday, according to market data.
Brent hit $92.43 per barrel as of 10: 56 AM WAT, signalling a 5.27 per cent increase. It had initially hit over $100 per barrel on Monday as crisis in the Middle East continued unabated.
The development followed a cut in the price of Premium Motor Spirit (PMS) or petrol by the Dangote Petroleum Refinery on Tuesday.
Dangote Group’s Chief Communications Officer, Anthony Chiejina, told Channels Television on the phone Tuesday that petrol at the gantry will now be sold at ₦1,075 per litre from ₦1,175 per litre last week, representing a ₦100 drop.
READ ALSO: Dangote Refinery Reduces Petrol Price By ₦100 To ₦1,075 Per Litre
Petrol supplied through coastal distribution will now sell at ₦1,050 per litre, according to the Refinery.
Details soon…
The post World Oil Prices Jump Over 5% After Dangote Refinery Slashed Petrol By ₦100/Litre appeared first on Channels Television.
