The Dangote Petroleum Refinery has resumed the sale of Premium Motor Spirit, popularly called petrol, in naira, ending its brief dollar-denominated pricing regime, while increasing its ex-depot price by N140 per litre.
The latest development comes one week after the 650,000-barrels-per-day refinery suspended truck loading of petrol and switched to dollar pricing, a decision that unsettled the downstream petroleum market, constrained supplies and triggered a sharp increase in depot prices.
The resumption of naira transactions was communicated to marketers in a notice issued by the refinery’s commercial department on Wednesday and was independently confirmed by industry platform Petroleumprice.ng.
The notice showed that the gantry price of petrol increased from N1,075 per litre to N1,215 per litre, representing an increase of N140, or 13.02 per cent. The coastal loading price also rose from N1,441,575 per metric tonne to N1,602,495 per metric tonne.
The communication, titled PMS Price Change Communication, stated that
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