Dangote Announces New Petrol Price
Dangote Petroleum Refinery has resumed gantry loading in Naira, ditching its earlier decision to sell petrol in dollars.
The refinery also announced a new price for petrol, setting it at ₦1,215 per litre, an increase of ₦140 from the previous price of ₦1,075 per litre.
It will be recalled that Dangote Petroleum Refinery had pegged the ex-depot price of Premium Motor Spirit (PMS), better known as petrol or fuel, at $0.779 per litre, officially commencing dollar-denominated sales of refined petroleum products and ending the naira pricing regime introduced under the Federal Government’s naira-for-crude policy.
The new pricing template also reviewed benchmark prices for Automotive Gas Oil (diesel) and aviation fuel, signalling a major shift in the refinery’s commercial operations.
The development is expected to reshape pricing dynamics in Nigeria’s deregulated downstream petroleum sector, where the 650,000-barrels-per-day refinery has become the country’s largest supplier of refined petroleum products.
However, the refinery has now reversed its decision to sell petrol to local marketers in dollars
