- now sells at N1,175/litre
BY BONNY AMADI
Pump price of petrol in home to Africa’s largest producer of crude may hit N1500 per litre in few days if the rate of price surge is not checked.
Nigerian newly built privately owned Dangote Petroleum Refinery has again, increased its ex-gantry price of petrol by N180 to N1,175 per litre.
IPMAN’s national president, Abubakar Garima was reported to have confirmed the development on Monday.
The price adjustment represents the third time Dangote refinery has increased its ex-gantry price in one week.
Indications to a higher petrol price of N1,500 per litre manifested on March 7, when the plant raised the price to N995 per litre — from N874 per litre. Garima said the refinery also reviewed its ex-gantry diesel price to N1,620 per litre.
The IPMAN president urged President Bola Tinubu to intervene by providing the refinery with increased access to crude oil to help ease the burden on Nigerians.
Furthermore, he noted that the ex-depot price of petrol at private depots was higher at N1,200 per litre.
Earlier on Monday David Bird, chief executive officer (CEO) of the Dangote refinery, said the company will soon announce a new ex-gantry price for petrol over the oil price spike.
There is a gantry price movement, so we have paused loadings as of mid- night, and we’re updating the system to the new gantry price as a result of oil spiking $30 in the last 24 hours,” he said.
“There is a new gantry price. Gantry loadings will commence immediately upon system upload. So, dispelling myths, Dangote Refinery is fully open for business.”
The war involving the United States, Iran, and Israel has raised oil price, leading to a hike in petrol prices.
Recommended for you
Leave a Reply
Leave a Reply
