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Marketers lifting petrol from Dangote Refinery began selling at N1,125 per litre, creating a N48 gap above the refinery’s naira-equivalent gantry priceThe pricing difference emerged after Dangote Refinery switched to dollar-denominated transactions, requiring marketers to pay in US dollars rather than nairaIndustry analysts warned that consumers could bear the brunt if the trend spreads further across Nigeria’s downstream petroleum market
Petrol marketers sourcing fuel from Dangote Petroleum Refinery have begun retailing Premium Motor Spirit at N1,125 per litre on Wednesday, July 15, a figure that sits N48 above the refinery’s naira-equivalent gantry price of roughly N1,077 per litre.
The refinery’s official dollar-denominated gantry price remains at $0.779 per litre, which at the prevailing exchange rate translates to approximately N1,077 per litre.
Marketers adjust petrol prices upward following Dangote Refinery’s dollar sales policy Photo: NurphotoSource: Getty Images
Petroleumprice.ng reports that marketers connected to the facility have set their selling price higher, absorbing and passing
