The Digest:
Dangote Refinery has raised the ex-depot price of Premium Motor Spirit (PMS) from N820 to N850 per litre, marking a N30 hike. This comes after the refinery resumed its petrol sales following a suspension, pushing petrol marketers to pay more for supplies.
The price rise will lead to higher costs for marketers and retailers, already facing increased pump prices across the country. The Nigerian National Petroleum Company Limited (NNPC) raised fuel prices in Abuja to N955 per litre before lowering them to N900. Other filling stations, such as Ranoil and AA Rano, now dispense fuel between N950 and N955 per litre.
Key Points:
- Dangote Refinery raises ex-depot price of petrol to N850
- The hike represents a N30 increase in fuel price
- Petrol marketers will face higher costs for petrol products
- NNPC adjusts pump price from N955 to N900 in Abuja
- Ranoil and other stations are now selling petrol at N950–N955
- Price rise follows the resumption of Dangote refinery's operations
- Concerns mount over fuel affordability and economic impact
As fuel prices continue to climb, Nigerians must brace for the ripple effects on daily life. Rising fuel costs serve as a reminder of the economic storm many are weathering.
Sources: Business Day, Daily Post
