Dangote Petroleum Refinery has resumed the sale of Premium Motor Spirit (PMS), popularly known as petrol, in naira, ending a brief period of dollar-denominated transactions for local buyers. The refinery also announced a new ex-depot (gantry) price of ₦1,215 per litre, representing an increase of ₦140, or about 13%, from the previous price of ₦1,075…
Nigerians may soon face another increase in petrol prices as fuel importers prepare to raise depot prices from ₦1,230 to ₦1,350 per liter, a move expected to squeeze marketers’ margins and push retail pump prices higher in the coming days. The increase comes amid rising import costs and continued pressure on foreign exchange, with marketers…
Dangote Petroleum Refinery has announced another reduction in the ex-depot price of Premium Motor Spirit (PMS), cutting the rate by ₦50 per litre to ₦1,075 per litre in its fourth petrol price reduction within a month. The latest adjustment, which took immediate effect, lowers the ex-gantry price from ₦1,125 per litre and brings the refinery’s…
Major petroleum marketers in Nigeria have warned they could shut down filling stations nationwide if the Federal Government moves ahead with plans to enforce stricter controls on petrol pump prices in the country’s deregulated downstream sector. The warning comes amid growing tensions between regulators and marketers over fuel pricing following the recent decline in global…
The Independent Petroleum Marketers Association of Nigeria (IPMAN) has appealed to motorists not to engage in panic buying despite warning that localized fuel queues could emerge in parts of Lagos and Abuja this week due to temporary logistics challenges affecting private fuel depots. According to the association, the supply disruption is not linked to a…
