The Digest:
Nigerian fuel depot owners have sharply increased ex-depot petrol prices, citing concerns over an alleged planned maintenance shutdown at the Dangote Refinery, a move that threatens to send a fresh wave of inflationary pressure through the economy.
Key Points:
- Multiple depot owners, including Ranoil, Optima, and AYM Shafa, have raised prices to around N800 per litre, up from a previous range of N740-N780.
- This hike is directly linked to reports of upcoming turnaround maintenance at the Dangote Refinery's petrol production unit.
- In contrast, Dangote Depot maintained a lower price of N702 per litre, with Aiteo selling at N740.
- Dangote Vice President Devakaru Edwin stated the maintenance aims to "remove constraints to raise overall output," noting production in many areas is already above 100%.
- The ex-depot increase is already affecting retail, with pump prices observed between N739 and N910 per litre nationwide on Saturday.
Sources: Daily Post Nigeria, Platts (S&P Global)
