There is a new fuel price at filling stations as marketers prepare to load petrol products from the refinery
The federal government of Nigeria has approved direct purchases by independent marketers from Dangote. The deregulated petroleum market means that market forces will now determine the pump price
Filling stations nationwide have once again raised the pump price of Premium Motor Spirit, commonly known as petrol. This adjustment follows reports that oil marketers are preparing to source petrol from Dangote refinery. …CONTINUE READING
Some filling stations sell as high as N1,250, while the black market sells at N1,300. At a filling station in Ikotun, a motorist, Chinedu Eze, told Legit.ng that he paid N1,150 per litre.
He said: “Fuel prices keep going up, I am tired.” Femi Adeyemi, another frustrated motorist, added: “Look around; it’s empty. People can’t afford fuel anymore, even though we have a refinery and produce crude.”
Vanguard also reported that pump prices at filling stations now range between N1,100 and N1,200 per litre, up from around N1,060, and vary by location.
Conoil and TotalEnergies are selling at N1,109 per litre, while others, like NIPCO, are priced at N1,115, Ardova Plc at N1,125, and most independent marketers range between N1,150 and N1,230
In a similar report, the marketers insist that the mega refinery should sell the product at a reduced rate to attract their patronage.
Dailytrust reports that many marketers who spoke anonymously said Dangote’s price is higher than that of imported products, discouraging them from buying it.
According to the report, many marketers landed the product at N970 per litre, while the $20 billion refinery sells for N977, leaving a margin of N77.
