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Petrol’s average ex-depot price has increased following Dangote Refinery’s decision to suspend fuel sales in naira and switch to dollar paymentsAlthough many filling stations have not yet adjusted their pump prices, marketers expect fuel prices to rise as higher depot costs filter into the retail market PETROAN has warned that the dollar-based pricing policy could increase pressure on the naira, worsen inflation, and raise transportation and living costs
Legit.ng journalist Victor Enengedi has over a decade’s experience covering energy, MSMEs, technology, banking and the economy.
The average ex-depot price of petrol has climbed from about N1,120 to N1,200 per litre, raising concerns that motorists could soon face higher pump prices across Nigeria.
The increase comes days after the Dangote Petroleum Refinery announced the suspension of petroleum product sales in naira, opting instead for transactions in United States dollars.
Petrol Price Set to Rise as Ex-Depot Cost Hits N1,200 After Dangote’s Dollar Sales PolicySource:
