FUEL PRICES RISE NATIONWIDE AS DANGOTE REFINERY ADDS N100 PER LITRE
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By: Fasasi Hammad
Dangote Refinery has announced a ₦100 per litre increase in the nationwide retail price of Premium Motor Spirit (PMS).
The refinery disclosed the adjustment in a statement released on Monday, noting that its gantry price for petrol has risen to ₦799 per litre, while the retail price now stands at ₦839 per litre. This represents an increase from the ₦699 gantry price and ₦739 retail price that had been in effect since December last year.
“Under the current pricing structure, the PMS gantry price is ₦799 per litre, while MRS retail outlets are selling at ₦839 per litre,” the statement said.
Chief Executive Officer of Dangote Petroleum Refinery, David Bird, stated that the facility continues to supply the domestic market with about 50 million litres of PMS daily, adding that nationwide evacuation and distribution remain uninterrupted.
Meanwhile, the refinery recently turned to gasoline imports to support supply during downtime of its Residual Fluid Catalytic Cracker (RFCC), according to data from Kpler.
As of Monday night, petrol prices at retail outlets, including those operated by the Nigerian National Petroleum Company Limited, ranged between ₦805 and ₦830 per litre.
Industry watchers warn that Dangote Refinery’s latest price increase could spark a broader rise in petrol prices across Nigeria’s downstream sector.
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DANGOTE REFINERY RAISES PMS GANTRY PRICE TO N799, PUMP PRICE TO N839 PER LITRE
It will be recalled that in December last year, the President of the Dangote Group, Aliko Dangote, stated that the ₦739 per litre retail price would be maintained nationwide in a bid to edge out fuel importers. Speaking to journalists on Sunday, December 14, he said, “We don’t want people to sell petrol for more than ₦740 nationwide.”
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