Business News
Dangote Refinery raises petrol price by N100 per litre nationwide
Dangote Refinery has announced a N100 per litre increase in the retail price of Premium Motor Spirit, also known as petrol, across the country.
The company made this known in a statement issued on Monday.
According to the $20 billion refinery, the gantry price of petrol has been raised to N799 per litre, while the retail price now stands at N839 per litre.
This represents an increase from the previous prices of N699 per litre at the gantry and N739 per litre at retail, which had been in effect since December last year.
“Under the current alignment, the PMS gantry price is N799 per liter, while MRS retail outlets are selling at N839 per liter,” the company stated.
The Chief Executive Officer of Dangote Petroleum Refinery, David Bird, stated that the refinery continues to supply the domestic market with approximately 50 million liters of PMS daily, with nationwide evacuation and distribution operating normally.
Very Nigerian recalls that Dangote Refinery resorted to gasoline imports to boost its capacity amid its Residual Fluid Catalytic Cracker, RFCC, downtime, according to Kpler.
As of Monday night, retail filling stations, including Nigerian National Petroleum Company Limited, dispense petrol between N805 and N830 per liter.
However, Dangote’s fuel price hike may trigger a petrol price hike across the country’s downstream sector.
Recall that Aliko Dangote, the president of the refinery, had in December last year said that its N739 per liter retail fuel price would persist nationwide to edge out importers.
In the briefing with journalists, precisely on Sunday, 14th December, Dangote said, “We don’t want people to sell petrol for more than N740 nationwide.
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