Dangote hikes petrol price to N1,175 per litre
The Dangote Refinery and Petrochemicals (DPRP) has raised its gantry rate for Premium Motor Spirit (PMS) petrol to N1,175 per litre from N995/l. Alhaji Abubakar Maigandi, National President of the
The Dangote Refinery and Petrochemicals (DPRP) has raised its gantry rate for Premium Motor Spirit (PMS) petrol to N1,175 per litre from N995/l.
Alhaji Abubakar Maigandi, National President of the Independent Petroleum Marketers Association of Nigeria (IPMAN), confirmed this to The Nation by phone on Monday. He added that other depots now sell the product at N1,200 per litre.
A source in the industry said, "Dangote Refinery was selling petrol at N1,175/l while Pinnacle was selling it for N1200/l," stressing, "but Dangote is not loading."
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The increase followed crises in the Middle East that raised crude oil prices to $115 per barrel.
Crude oil is the main component in the PMS pricing template.
As of the time of writing this report, retail outlets in the Federal Capital Territory (FCT) had yet to adjust their pump prices from N1,075 per litre to N1,090 per litre.
Details shortly...
