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Dangote Increases Petrol Price To N839 Per Litre

Dangote Refinery has increased the retail price of Premium Motor Spirit nationwide to N839 per litre. 

With the latest increment, N100 was added to a litre of petrol, as disclosed in a statement by the company on Tuesday. 

The gantry price of petrol is now sold at N799 per litre, while the retail price is N839 per litre. 

This was against the N699 and N739 per litre respectively sold 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 statement read.

The Chief Executive Officer of Dangote Petroleum Refinery, David Bird hinted that the refinery supplies the domestic market with approximately 50 million liters of PMS daily, with nationwide evacuation and distribution operating normally.

This move by Dangote Refinery may likely lead to a hike in the price of petroleum products nationwide. 

Last week, Kpler, a global energy analytics firm hinted that the restart of the refinery’s 200,000 barrels-per-day Residual Fluid Catalytic Cracking (RFCC) unit was shifted to February 10, and could face further delays following repeated outages since April last year.

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