As Nigeria’s Dangote Refinery readies to supply petrol, fuel marketers adjust prices. Find out how this development could impact fuel affordability and availability across Nigeria.
Major oil marketers in Nigeria have raised the price of Premium Motor Spirit (PMS), commonly referred to as petrol, from N1,010 to N1,050 per litre. This adjustment marks a 4% increase in Lagos and surrounding regions.
On the other hand, independent oil marketers have increased their rates to between N1,100 and N1,200 per litre from approximately N1,060. The prices vary depending on the location.
An investigation revealed that in the deregulated market, petrol prices vary across filling stations, resulting in slight differences; however, some stations continue to offer similar rates.
Furthermore, reports suggest that numerous oil marketers are gearing up for significant product lifting from the Dangote Refinery. Analysts believe this could slightly decrease the current pump price.
Peoplesmind
