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IPMAN has warned that petrol prices could rise if the Dangote Petroleum Refinery starts selling refined products in U.S. dollarsThe association said marketers would need to buy dollars to purchase fuel, increasing costs that would likely be passed on to consumersIPMAN blamed the situation on crude supply challenges, foreign exchange pressures, and global oil market uncertainty
Legit.ng journalist Victor Enengedi has over a decade’s experience covering energy, MSMEs, technology, banking and the economy.
The Independent Petroleum Marketers Association of Nigeria (IPMAN) has cautioned that Nigerians could soon pay more for petrol if the Dangote Petroleum Refinery begins selling refined petroleum products in U.S. dollars instead of naira.
The warning follows reports that the 650,000-barrel-per-day refinery is considering a return to dollar-denominated transactions amid rising foreign-exchange obligations and concerns about crude oil supply.
Petrol Price Set to Rise Again as marketers Raises Alarm Over Dangote Refinery’s Dollar Sales PlanSource: UGC
Dollar sales could push petrol prices
